S&P rates Wells Fargo Securities AA/A-1

Standard & Poor's said it assigned an AA/A-1+ long- and short-term counterparty credit ratings on Wells Fargo Securities LLC.

The outlook is negative.

The ratings and outlook are based on its core status to the holding company, Wells Fargo & Co., under group ratings methodology.

Because S&P said it views Wells Fargo Securities as a core subsidiary, it is rated the same as the Wells Fargo group's other core operating entities.

This classification reflects Wells Fargo Securities' strategic, operational and business integration with the company's other businesses and expectations for Wells Fargo Securities' to maintain its satisfactory performance, the agency said.

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