“It’s safe to assume any big acquisition of any kind would be too big, as we would run the risk of disrupting the Wachovia acquisition.”Wells Fargo has begun layoffs tied to the merger, including 548 in Charlotte, North Carolina, where Wachovia was based.Atkins downplayed any prospect of major asset sales to raise capital. He also said Wells Fargo plans to keep large parts of Wachovia’s investment bank, while shedding parts that do not help win commercial and corporate customers.Many of these “need financial advice and M&A (merger and acquisition) services, as well as things like interest-rate protection products and foreign exchange, and bond and equity issuance,” Atkins said. The bank plans to curb activity in structured transactions and proprietary trading, where it “takes risk without really serving our customer,” he added.(Reporting by Jonathan Stempel; editing by John Wallace) Deals France. AUSTIN–(Business Wire)–Fitch Ratings assigns a rating of ‘A’ to Del Rio, TX’s $1.7 million combinationtax and airport revenue certificates of obligation (COs), series 2009B,scheduled to sell through private placement the week of June 8th. Fitch Ratingsalso affirms the ‘A’ rating on the city’s outstanding $13.7 million generalobligation bonds and $58.6 million COs The Rating Outlook is Positive.

The COs are secured by a property tax levy, limited to $2.50 per $100 taxableassessed valuation (TAV). The COs are additionally secured from a limited pledgeof surplus net revenues from the city’s municipal airport system. The ‘A’ ratingis based on the city’s sound financial management, low debt levels and rapidprincipal amortization. The rating also incorporates the city’s limited butgrowing tax base and moderate overall tax rate, as well as its measured capitalimprovement plan (CIP).

The Positive Outlook is based on the city’s trend oflarge reserves and enhanced fund balance requirements. Economically sensitive sales taxes and toll bridge revenue transfers representthe city’s largest sources of operating revenues, both of which have softenedrecently. Economic stability is aided by nearby Laughlin Air Force Base, whichserves as the largest pilot training installation in the world and is expectedto benefit from additional troops and jobs as a result of the recent basealignment and closure process. Stabilization of the city’s main revenue sourcesand continued positive financial performance may result in an upgrade. Located along the Texas-Mexico border, Del Rio is approximately 150 miles westof San Antonio, TX.