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Bank of America Corp. Feb 08
Standard & Poors, Feb 2008
Abstract
One-of-a-kind national banking franchise providing highly leverageable distribution platform A good mix of both banking and nonbanking businesses Long-term profitability metrics have improved to where it is now comparable with peers Strong parent company liquidity Mediocre capitalization Increased headline risk Integration risk with announced Countrywide Financial Corp. (BBB+/Watch Pos/A-2) acquisition Standard & Poor's Ratings Services' ratings on Bank of America Corp. (BofA) are based on its success in creating the first true U.S. nationwide banking franchise and in converting this competitive advantage into improved financial performance. A key strength for BofA is its retail network of approximately 6,100 branches and an unrivaled distribution network, from which it gathers stable and inexpensive core deposit funding. An active acquirer, BofA's January 2006...
Action: Review
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: Full Analysis
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