MINNEAPOLIS--(BUSINESS WIRE)--Nov. 6, 2006--Standard and Poor's
Ratings Services (S&P) announced on Nov. 1, 2006 that U.S. Bancorp
(NYSE:USB) is among six financial holding companies that have been
placed on S&P's CreditWatch with positive implications. The news comes
as Global Finance lists U.S. Bancorp as the fourth-safest financial
holding company in the United States, based on a collective analysis
of debt ratings.
S&P currently rates U.S. Bancorp as "AA-minus," which is S&P's
fourth-highest grade. S&P will evaluate U.S. Bancorp's performance
after 2006 year-end results are reported to determine whether the
CreditWatch placement will result in an upgrade.
The Global Finance list of the world's safest banks appears in the
publication's October 2006 edition. U.S. Bancorp is ranked fourth of
all U.S. banks that appear on the list, and is ranked number 28 of all
banks worldwide. The list includes 50 financial institutions that have
the highest long-term foreign currency ratings from Fitch Ratings and
S&P, and the highest long-term bank deposit ratings from Moody's
"We are pleased to be given a positive outlook on S&P's
CreditWatch and to be included in Global Finance's list of the world's
safest banks," said David Moffett, vice chairman and chief financial
officer at U.S. Bancorp. "We are proud of our history of profitability
and diversification, and the third-party recognition that we are
trustworthy stewards of the investments that have been made in U.S.
U.S. Bancorp, with assets of $217 billion, is the 6th largest
financial holding company in the United States. The company operates
2,462 banking offices and 4,943 ATMs, and provides a comprehensive
line of banking, brokerage, insurance, investment, mortgage, trust and
payment services products to consumers, businesses and institutions.
U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on
the web at www.usbank.com.
CONTACT: U.S. Bancorp
Teri Charest, 612-303-0732
Judy Murphy, 612-303-0784
SOURCE: U.S. Bancorp