Research Update: Bank of America Corp. 'A+/A-1' Rating Affirmed; Outlook Negative Jan 09
Standard & Poors, January 2009
Abstract
On Jan. 16, 2009, Standard & Poor's Ratings Services affirmed its ratings on Bank of America Corp. (BofA). The counterparty credit rating on BofA was affirmed at 'A+/A-1'. The outlook remains negative. This affirmation follows the company's fourth-quarter earnings results and the announcement that it will receive $24 billion in capital from the U.S. Treasury under the Troubled Asset Relief Program (TARP) and up to $118 billion in government guarantees under a separate loss-sharing agreement applicable to selected capital-markets exposures. This support will help mitigate the losses that BofA assumed following its Jan. 1, 2009, acquisition of Merrill Lynch & Co. Inc. (Merrill). We lowered our ratings on BofA one notch on Dec. 19, 2008, as part of a larger...
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Bank of America Corp.
- Merrill Lynch & Co. Inc.
- Countrywide Home Loans Inc.
- Fleet National Bank
- LaSalle Bank N.A.
- Bank of America N.A.
- Merrill Lynch International Bank Ltd.
- Countrywide Financial Corp.
- LaSalle Bank Midwest N.A.
- FIA Card Services N.A.
- Bank of America N.A. (USA)
- Merrill Lynch & Co., Canada Ltd.
- Merrill Lynch International (Australia) Ltd.
- BankAmerica Institutional Capital A
- BankAmerica Capital III
- Barnett Capital Trust I
- BankBoston Capital Trust I
- NB Capital Trust III
- BankAmerica Institutional Capital B
- Barnett Capital Trust II
- BankBoston Capital Trust II
- Barnett Capital Trust III
- Summit Bancorp Capital Trust I
- MBNA Capital B
- Merrill Lynch Preferred Capital Trust III
- BankBoston Capital Trust IV
- Merrill Lynch Preferred Capital Trust IV
- Merrill Lynch Finance (Australia) Pty Ltd.
- Merrill Lynch Preferred Capital Trust V
- Fleet Capital Trust V
- Merrill Lynch S.A.
- Banc of America Securities LLC
- MBNA Europe Funding PLC
- Merrill Lynch Yen TOPrS Trust 1
- Fleet Capital Trust VI
- Fleet Capital Trust VIII
- Fleet Capital Trust IX
- BAC Canada Finance Company
- BANA Holding Corp
- BAC LB Capital Funding Trust I
- Merrill Lynch Japan Finance Co. Ltd.
- BAC North America Holding Co.
- BAC AAH Capital Funding LLC I
- BAC AAH Capital Funding LLC II
- BAC AAH Capital Funding LLC III
- BAC AAH Capital Funding LLC IV
- BAC AAH Capital Funding LLC V
- BAC AAH Capital Funding LLC VI
- BAC AAH Capital Funding LLC VII
- Banc of America Preferred Funding Corp.
- BAC AAH Capital Funding LLC VIII
- BAC AAH Capital Funding LLC IX
- BAC AAH Capital Funding LLC X
- BAC AAH Capital Funding LLC XI
- BAC AAH Capital Funding LLC XII
- BAC AAH Capital Funding LLC XIII
- BAC Capital Trust I
- BAC Capital Trust III
- BAC Capital Trust IV
- BAC AAH Capital Funding LLC XV
- BAC AAH Capital Funding LLC XVI
- BAC AAH Capital Funding LLC XVII
- BAC AAH Capital Funding LLC XVIII
- BAC AAH Capital Funding LLC XIX
- Lasalle Funding LLC
- Banc of America Securities Ltd.
- MBNA Capital D
- MBNA Capital E
- BAC Capital Trust V
- BAC Capital Trust VII
- MBNA Canada Bank
- Bank of America Mexico S.A.
- Countrywide Bank FSB
- BAC Capital Trust VIII
- BAC Capital Trust X
- BAC Capital Trust XI
- BAC Capital Trust XII
- Banc of America Dutch Auction Preferred Corp.
- Merrill Lynch Mexico SA de CV Casa de Bolsa
- BAC Capital Trust XIII
- BAC Capital Trust XIV
- Bank of America (California) N.A.
- BAC Capital Trust XV
- Merrill Lynch Capital Trust I
- Merrill Lynch Capital Trust II
- U.S. Trust Company N.A.
- Merrill Lynch Capital Trust III
- Merrill Lynch Bank & Trust Co. (Cayman) Ltd
- BAC Capital Trust VI
- BAC AAH Capital Funding LLC XIV
- Merrill Lynch Japan Securities Co. Ltd.
- BAC Capital Trust II
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
