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Kroll affirms ratings for Wells Fargo

Kroll Bond Rating Agency affirmed the A senior unsecureddebt rating, A- subordinated debt rating and K1 short-term debt rating forWells Fargo & Co.

The rating agency also affirmed the AA- deposit and seniorunsecured debt ratings, A+ subordinated debt rating, and K1+ short-term debtand short-term deposit ratings for Wells Fargo Bank NA.

The outlook on all long-term ratings is stable.

In a news release, the rating agency noted that theallegations against Wells are "serious in nature and speak to potentialqualitative concerns" which may lead to management changes and thepotential for heightened regulatory scrutiny. In Kroll's view, however, theunderlying credit factors for both the company and the bank are "largelyunaffected by these revelations."

Wells did not solicit the ratings, and the company did notparticipate in the rating process, according to Kroll.