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BRIEF-S&P revises Wells Fargo's outlook to negative, affirms ratings
October 18, 2016 / 9:36 PM / a year ago

BRIEF-S&P revises Wells Fargo's outlook to negative, affirms ratings

Oct 18 (Reuters) - S&P:

* Wells Fargo outlook revised to negative from stable on potential elevated business risks; ratings affirmed

* Affirming ‘A/A-1’ ratings on Wells Fargo and ‘AA-/A-1+’ on its main operating subsidiaries

* Believe risks have increased regarding magnitude of reputational damage from retail account sales misconduct, ongoing investigations

* “Wells will likely continue to face significant business challenges for at least several months”

* s&p on wells fargo - $185 million settlement regulators may not sufficiently capture damage caused by the retail sales misconduct Source text - (bit.ly/2erRabh) Further company coverage:

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