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Bank of America Corp. Commercial Servicer Rankings Raised, Affirmed; Outlook Is Stable Jan 09
Standard & Poors, Jan 2009
Abstract
NEW YORK (Standard & Poor's) Jan. 26, 2009--Standard & Poor's Ratings Services today raised its ranking on Bank of America Corp.'s Real Estate Structured Finance Servicing Group to ABOVE AVERAGE from AVERAGE as a commercial special servicer. At the same time, we affirmed our STRONG rankings on the company as a commercial primary and commercial master servicer. The outlook is stable. The raised ranking for special servicing reflects: -- Increased special servicing activity; -- A highly experienced management team; -- The addition of industry veterans from within the organization into the asset management team; -- Low hold times and successful asset resolution strategies; and -- Ample capacity to handle an increase in transfers, and multiple resources within the organization to...
Companies mentioned in this report are: Bank of America Corp.
Action: Affirmed
Action: Servicer Ranking
Action: Upgraded
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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