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Bank of America Corp. ?A/A-1? Rating Affirmed; Stand-Alone Credit Profile And Hybrid Ratings Raised Dec 10
Standard & Poors, Dec 2010
Abstract
BofA has made significant fundamental progress in the past two years in derisking its balance sheet while steadying earnings results. We affirmed our issuer ratings on BofA and raised the hybrid ratings (which include all preferred debt) one notch; the outlook is negative. We expect continued derisking and improving earnings performance to result in higher capital levels. NEW YORK (Standard & Poor's) Dec. 15, 2010--Standard & Poor's Ratings Services said today that it affirmed its 'A/A-1' counterparty credit rating on Bank of America Corp. (BofA). We also affirmed the ratings on various affiliates, including the 'A+/A-1' counterparty credit rating on Bank of America N.A., its lead bank subsidiary. At the same time, we raised the stand-alone credit profile (SACP) of...
Companies mentioned in this report are: Bank of America Corp.,Bank of America N.A.
Action: Affirmed
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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