Wells Fargo May Get Credit Rating Upgrade

Moody’s Investors Service may upgrade the credit rating of San Francisco-based Wells Fargo & Co.

Wells Fargo’s “strong retail and middle-market banking franchise” as well as its “robust core earnings, solid risk management and highly focused sales culture” are reasons cited for the review, Moody’s said.

Wells Fargo is rated Aa2, Moody’s third-highest rating.

Shares of Wells Fargo rose 60 cents to $48.90 on the NYSE.