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BankAmerica & NationsBank Put On S&PWatch After Merger Apr 98
Standard & Poors, April 1998
Abstract
NY -- Standard & Poor's CreditWire 4/13/98 -- Standard & Poor's today placed its ratings on NationsBank Corp. and BankAmerica Corp. and units on CreditWatch with positive implications (see list below). At the same time, the ratings on Bank of America Canada, Bank of America (Asia) Ltd., and BA Australia Ltd are affirmed (see list below). The placement on CreditWatch positive follows the announcement that the banks will merge. The CreditWatch placement on Bank of America, Texas ratings are revised to positive from developing as the bank is no longer for sale. The merger will create the most geographically diversified bank in the U.S. with $570 billion of consolidated assets. The combined organization will become the country's first truly national...
Companies mentioned in this report are: BankAmerica Corp. (Old),Barnett Banks Inc.,Bank of America Corp.,Bank of America N.A.,NationsBank of Texas N.A., Dallas,BA Australia Ltd. ,Bank of America, Texas, N.A., Houston ,NationsBank of Delaware N.A., Dover,Bank of America (Asia) Ltd.,NationsBank of Tennessee N.A., Nashville,Bank of America FSB, Portland, OR ,Bank of America Canada
Action: On CreditWatch:Positive
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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