S&P: Capital One unaffected

Standard & Poor's said its ratings on Capital One Financial Corp. (BBB/negative) are not affected by the company's fourth-quarter earnings.

The company posted income from continuing operations of $701 million, compared with $818 million in the previous quarter. The agency said the decline in earnings was primarily due to an $86 million reduction in net interest income as a result of lower late fees resulting from the implementation of the CARD Act and an increase of $95 million in noninterest expenses, mainly marketing related.

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