N@N

Wells Fargo Comments on Actions by Moodya?s Investors Service

  //business-finance.news-articles.net/content/201 .. ts-on-actions-by-moodya-s-investors-service.html
  Published in Business and Finance on Wednesday, September 21st 2011 at 13:07 GMT by Market Wire

SAN FRANCISCO--([ BUSINESS WIRE ])--Wells Fargo & Company (NYSE:WFC) today issued the following statement regarding actions by Moodya™s Investors Service.

Todaya™s announcement by Moodya™s solely reflects a change in their assumption regarding systemic support in light of the provisions of Dodd-Frank, as previously addressed in their June 2, 2011, press releaseand consistent with their prior statements from as far back as a year and a half ago. The action does not affectWells Fargo'sunsupported ratings, which were affirmed today at A2 for Wells Fargo Bank, NA, and A3 for Wells Fargo & Company that have been increased three times since 2009, most recently on December 6, 2010. Our short-term ratings were not a part of this review and were again affirmed at Prime-1 today.

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet ([ wellsfargo.com ] and [ wachovia.com ]), and other distribution channels across North America and internationally. With approximately 275,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortunea™s 2011 rankings of Americaa™s largest corporations. Wells Fargoa™s vision is to satisfy all our customersa™ financial needs and help them succeed financially.