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Bank of America Corp. Jan 11
Standard & Poors, Jan 2011
Abstract
High systemic importance in U.S. banking sector Business profile characterized by a diversified mix of global banking and non-banking businesses Previously aggressive credit-risk appetite has exacerbated consumer concentration Some businesses are 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 credit characteristics and our belief that BofA is a highly systemically important institution. This view results in a current long-term counterparty credit rating that reflects a two-notch uplift from BofA's stand-alone credit profile (SACP). Our ratings on BofA benefit from the depth and breadth of its U.S. national banking franchise, which provides a broad distribution platform...
Companies mentioned in this report are: Bank of America Corp.,Bank of America N.A.
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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