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

NEW YORK -- In connection with the downgrade of the long-term Issuer Default Rating (IDR) of Wells Fargo Bank, N.A. and Wachovia Bank, N.A., Fitch Ratings 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 'www.fitchratings.com' under the following headers:

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

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. 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 are also available from the 'Code of Conduct' section of this site.
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Publication:Business Wire
Date:Jul 24, 2009
Words:180
Previous Article:Fitch Rates Assured Guaranty Insured Issue 'AA'; Watch Evolving.
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