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Fitch affirms Wells Fargo
Fitch Ratings said it affirmed Wells Fargo & Co.'s long- and short-term issuer default ratings at AA- and F1+, respectively.
The outlook is stable.
The affirmation reflects solid profitability levels, sound capital profile and good liquidity position, the agency said.
These strengths are offset by a growing concentration to the residential mortgage market and weaker than average asset quality ratios, the agency noted.
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