Moody's affirms banks

Moody's Investors Service said it affirmed all ratings on Bank of New York Mellon Corp., State Street Corp. and Wells Fargo & Co.

The agency also changed the outlook of their bank subsidiaries' supported ratings to stable from negative. The lead bank subsidiaries are Bank of New York Mellon, State Street Bank and Trust Co. and

Wells Fargo Bank NA.

Outlooks on all other ratings remain unchanged, including the negative outlook on the supported ratings at the holding companies for Bank of New York Mellon and Wells Fargo.

The agency said State Street Corp.'s A1 senior rating gets no lift from Moody's government support assumptions and continues to have a stable outlook.

Moody's said the agency said the outlook actions taken on Bank of New York Mellon, State Street and Wells Fargo are consistent with outlooks on the five other US banking groups whose supported ratings get lift because of Moody's high or very high government support assumptions on these institutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.