Moody's affirmed all of the ratings of Wells Fargo & Co. and those of its subsidiaries.

Wells Fargo is rated A2 for senior debt, while subsidiary Wells Fargo Bank NA has deposit ratings of Aa1/Prime-1 and a standalone baseline credit assessment of "a2." Wells Fargo Bank also has a senior debt rating of Aa2 and a subordinated debt rating of Aa3, and its counterparty risk assessments are Aa1(cr)/Prime-1(cr).

The rating outlook was revised to stable from negative.

The rating affirmation is based on the company's continued balance sheet strength, specifically its "good" capital, liquidity and credit quality, according to Moody's.