Fitch: Capital One Financial Corp's Equity Raise Solidifies Stable Outlook

NEW YORK--(BUSINESS WIRE)--Fitch Ratings believes Capital One Financial Corporation's (COF) proposed common equity issuance will help to strengthen its Stable Rating Outlook. Fitch views the capital raise as an opportunistic move to take advantage of the unique market conditions. We do not anticipate any major charges resulting from mark-to-market adjustments or the sale of assets, which Fitch has seen at other major financial institutions in the U.S. While home price depreciation and rising unemployment levels will continue to pressure COF credit metrics and profitability, Fitch believes the impact will continue to be offset by the company's stable liquidity profile and solid capital base, both of which will benefit further from the equity issuance.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.