Rating Type = Outlook, Range = Positive, Stable, Negative, WB = Stable, Definition of S&P Ratings = The rating outlook indicates the potential of a long-term credit rating change over the intermediate to longer term. In determining a rating outlook, consideration is given to any changes in the economic and/or fundamental business conditions. An outlook is not necessarily a precursor of a rating change or future Credit Watch action. Stable means that a rating is not likely to change. A negative rating means that a rating may be lowered.
Rating Type = Short Term Obligations (CP), Range = A – D, WB = A-1, Definition of S&P Ratings = An issuer’s A-1 rating indicates its strong capacity to meet its financial commitments.
Rating Type = Senior Unsecured, Range = AAA – CCC, WB = A+, Definition of S&P Ratings = An obligation rated 'A' is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rated categories. However, the obligor's capacity to meet its financial commitment on the obligation is still strong.
Rating Type = Long Term, Subordinated, Range = AAA – CCC, WB = A, Definition of S&P Ratings = See explanation for A above.
Wachovia Bank, N.A.
Rating Type = Short Term Deposits, Long Term Deposits, Senior Unsecured, Long Term Subordinated Range = Short Term Deposits = A-1 – D, Long Term Deposits = AAA – CCC, Senior Unsecured = AAA – CCC, Long Term Subordinated = AAA – CCC WB = Short Term Deposits = A-1+, Long Term Deposits = AA-, Senior Unsecured = AA-, Long Term Subordinated = A+ Definition of S&P Ratings = A-1+ is the highest rating for commercial paper. An issuer’s A-1 rating indicates its strong capacity to meet its financial commitments. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor's capacity to meet its financial commitment on these obligations is extremely strong. An obligation rated 'AA' differs from the highest rated obligations only in small degree. The obligor's capacity to meet its financial commitment on the obligation is very strong.