Wells Fargo downgraded to A- from A by Standard & Poor's

Downgrade for Wells Fargo

Wells Fargo has $225B in long-term debt and $103B in short term debt.

If there's any good news, is that's after the downgrade, the outlook is stable. We will see how other ratings agencies respond but it wouldn't be a surprise to see them follow suit. The Federal Reserve is not at all happy with Wells.