Fitch: Wachovia unaffected

Fitch Ratings said Wachovia Corp.'s third-quarter losses were largely driven by goodwill impairment and are within expectations.

Wachovia's ratings (A+/Watch positive/F2) reflect its pending acquisition by Wells Fargo & Co (AA/stable/F1+), which is expected to be completed this quarter.

Fitch said it routinely subtracts goodwill from capital in its evaluation and, therefore, the goodwill impairment has no effect on Fitch's view of Wachovia's capital.

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