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Fitch Takes Various Rating Actions on Enhanced Variable Rate Muni Bonds (7/24/09).

NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 -- In connection with the downgrade of the long-term Issuer Default Rating (IDR IDR

In currencies, this is the abbreviation for the Indonesian Rupiah.

The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
) of Wells Fargo Bank, N.A. and Wachovia Bank, N.A., Fitch Ratings Fitch Ratings

An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris.
 has taken various rating actions on the long-term ratings of municipal bonds with enhancement provided by Wells Fargo Bank, N.A. and Wachovia Bank, N.A.

Fitch downgraded the long-term IDR of Wells Fargo Bank, N.A. and Wachovia Bank, N.A. to 'AA-'with a Stable Rating Outlook from 'AA' on Rating Watch Negative on July 22, 2009.

A spreadsheet detailing the rating actions in question is available on the Fitch Ratings web site at '' under the following headers:

Public Finance >>U.S. Public Finance >> Special Reports.

Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used.

In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide.
 of such ratings are available on the agency's public site, ''. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental  are also available from the 'Code of Conduct' section of this site.
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Publication:Business Wire
Date:Jul 24, 2009
Previous Article:Fitch Rates Assured Guaranty Insured Issue 'AA'; Watch Evolving.
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