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Bank of America Corp. Apr 10
Standard & Poors, April 2010
Abstract
High systemic importance in U.S. banking sector Strong national banking franchise providing highly valuable distribution platform A diversified mix of global banking and nonbanking businesses with leading positions in mortgage, credit cards, retail brokerage, wealth management, and investment banking Strong parent-company liquidity Consumer-sector concentration and resulting exposure to high credit losses in the near term Some businesses highly confidence sensitive Wholesale funding of trading operations Recent senior-level management turnover Continued elevated headline and legislative/regulatory risk Standard & Poor's Ratings Services' ratings on Bank of America Corp. (BofA) reflect the company's own credit characteristics and our belief that as a highly systemically important institution, BofA would receive extraordinary external support from the U.S. government if, contrary to our expectation, it required...
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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