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DBRS: Wells Fargo unchanged
DBRS said Wells Fargo & Co.'s issuer and senior debt ratings of AA are unchanged following the release of the company's first-quarter of 2012 results.
The trend is stable.
Wells Fargo reported record earnings of $4.2 billion in the quarter, a 13% increase from the first-quarter of 2011 and 3.4% increase from the fourth-quarter of 2011, DBRS said.
The agency said it sees this as a continuing differentiator for the company from many of its competitors with general earnings resilience, business diversity and generally good performance across much of its franchise in a difficult operating environment.
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