S&P cuts Wells Fargo's credit ratings on regulatory risks
Feb 7 (Reuters) - Credit-rating agency Standard & Poor's on Wednesday cut Wells Fargo & Co's credit ratings, citing further regulatory and governance risks.
The agency downgraded Wells Fargo's long-term issuer credit rating to "A-" from "A" and short-term issuer credit rating to "A-2" from "A-1". (http://bit.ly/2GXzmlV)
Regulatory risk for Wells is more severe than previously expected and the process for improving its governance and operational risk policies may take longer than previously expected, S&P said in a statement. (Reporting by Pallavi Dewan in Bengaluru; Editing by Anil D'Silva)
