Moody's Investors Service on Wednesday cut Wells Fargo's senior debt rating to 'A1' from 'Aa3', its senior subordinated debt rating to 'A2' from 'A1', and the banking giant's junior subordinated debt rating to 'A3' from 'A1'.

The rating agency cut Wells Fargo's preferred stock rating to 'B2' from 'A2.' Wells Fargo's short-term rating was affirmed at 'Prime-1.'

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