Wells Fargo & Company: Credit Rating Report

On May 17, 2024, DBRS, Inc. (Morningstar DBRS) confirmed the credit ratings of Wells Fargo & Company (Wells Fargo or the Company), including the Company's Long-Term Issuer Rating of AA (low). At the same time, Morningstar DBRS confirmed the credit ratings of its primary banking subsidiary, Wells Fargo Bank, N.A. (the Bank). The trend for all credit ratings is Stable. The Intrinsic Assessment (IA) for the Bank is AA, while its Support Assessment remains SA1. The Company's Support Assessment is SA3 and its Long-Term Issuer Rating is positioned one notch below the Bank's IA.