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Wells, WaMu Get 'Positive' Upgrade.

National Mortgage News

| March 06, 2006 | COPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW YORK -- Standard and Poor's has raised its rating outlook from "stable" to "positive" for a number of banking companies, including mortgage giants Wells Fargo and Washington Mutual.

In the case of Wells Fargo, S&P said the upgrade reflects the company's consistently strong operating results and the strength of its retail banking franchise. S&P said Wells benefits from strong liquidity related to "high-quality residential mortgage loans" and its low-cost deposit base.

In addition, Wells was credited for strong risk management in the pricing of loans as well as the management of credit risk exposure.

S&P also recently raised its outlook for …

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Source: HighBeam Research, Wells, WaMu Get 'Positive' Upgrade.

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