Fitch Ratings affirmed Wells Fargo & Co. at ‘A+’ for its long-term issuer default rating and ‘F1’ for its short-term rating on May 6, 2026. The agency maintained a stable outlook for the firm. This follows a separate assignment of an ‘AA-‘ issuer default rating to Wells Fargo Securities, LLC.
Affirmation of Wells Fargo & Co. Credit Ratings
On May 6, 2026, Fitch Ratings affirmed the credit ratings for Wells Fargo & Co., maintaining a Long Term Issuer Default Rating of ‘A+’ and a Short Term Issuer Default Rating of ‘F1’ [2], [6]. The agency accompanied these ratings with a stable outlook, indicating a consistent expectation for the company’s creditworthiness over the immediate horizon [2].
The affirmation of the ‘F1’ short-term rating reflects the agency’s assessment of the company’s ability to meet its short-term financial obligations. This rating action occurred during a period of active credit evaluation for the organization’s various financial instruments and subsidiaries.
Issuer Default Rating for Wells Fargo Securities, LLC
In a distinct rating action, Fitch Ratings assigned an ‘AA-‘ Issuer Default Rating (IDR) to Wells Fargo Securities, LLC [4]. While the parent company, Wells Fargo & Co., holds an ‘A+’ long-term rating, the ‘AA-‘ assignment for the securities arm indicates a different credit profile for this specific entity within the corporate structure.
The distinction between the parent company’s ‘A+’ rating and the subsidiary’s ‘AA-‘ rating highlights the specific risk assessments Fitch applies to different legal entities under the Wells Fargo umbrella. The IDR measures the entity’s overall capacity to meet its financial commitments.
Commercial Mortgage Trust Rating Actions
The credit evaluations of Wells Fargo entities extended to structured finance on May 5, 2026. Fitch Ratings assigned expected ratings and Rating Outlooks to the Wells Fargo Commercial Mortgage Trust 2026-5C9 [10]. This action preceded the broader affirmation of the parent company’s ratings by one day.
These expected ratings are part of the presale process for the trust, providing investors with a preliminary assessment of the credit quality of the mortgage-backed securities before they are officially issued to the market [10].
Fitch Group Operational Scale and Market Reach
Fitch Ratings operates as the third largest Nationally Recognized Statistical Rating Organization (NRSRO), trailing S&P and Moody’s in market share [7]. The agency frequently positions itself as a tie-breaking voice in the credit markets [7]. As part of the broader Fitch Group, the organization utilizes a global infrastructure to provide credit ratings, research, and analytics [1], [5].
The operational scale of Fitch Group is supported by more than 5,000 employees across 31 countries [5]. The firm employs nearly 1,700 analysts who provide insights on over 190 countries, more than 8,000 corporate entities, and over 245,000 debt securities [5]. The agency is dual headquartered in New York and London, with Paul Taylor serving as President and Chief Executive Officer [5].
The organization’s analysts cover a wide array of financial instruments, including 5,000 financial institutions, 2,850 corporates, and 160 sovereigns and supranationals [5]. This data is distributed through Fitch Solutions, which provides datasets including fundamental financials, ESG metrics, and macroeconomic indicators to help clients analyze credit risk and strategy [9]. Additionally, Fitch Learning provides professional qualifications and financial education based on this credit expertise [5].