Research Update: Bank of America Corp. 'A/A-1' Rating Affirmed, Removed From CreditWatch; Outlook Stable May 09
Standard & Poors, May 2009
Abstract
Our confidence in government support for Bank of America Corp. (BofA), if needed, has been renewed. We expect capital-boosting measures to cushion against even higher, unanticipated losses, and credit losses under our stress tests to be manageable. We affirmed our counterparty and debt ratings on BofA and removed them from CreditWatch Negative; the outlook is stable. The stand-alone credit profile is now three notches below the counterparty rating. On May 8, 2009, Standard & Poor's Ratings Services affirmed its 'A/A-1' counterparty credit rating on Bank of America Corp. and removed our rating from CreditWatch, where it had been placed May 4, 2009. We also affirmed and removed from CreditWatch the ratings on various affiliates, including the 'A+/A-1' counterparty credit rating...
Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Bank of America Corp.
- Merrill Lynch & Co. Inc.
- Countrywide Home Loans Inc.
- Fleet National Bank
- LaSalle Bank N.A.
- Bank of America N.A.
- Merrill Lynch International Bank Ltd.
- Countrywide Financial Corp.
- LaSalle Bank Midwest N.A.
- FIA Card Services N.A.
- Bank of America N.A. (USA)
- Merrill Lynch & Co., Canada Ltd.
- Merrill Lynch International (Australia) Ltd.
- BankAmerica Institutional Capital A
- BankAmerica Capital III
- Barnett Capital Trust I
- BankBoston Capital Trust I
- NB Capital Trust III
- BankAmerica Institutional Capital B
- Barnett Capital Trust II
- BankBoston Capital Trust II
- Barnett Capital Trust III
- Summit Bancorp Capital Trust I
- MBNA Capital B
- Merrill Lynch Preferred Capital Trust III
- BankBoston Capital Trust IV
- Merrill Lynch Preferred Capital Trust IV
- Merrill Lynch Finance (Australia) Pty Ltd.
- Merrill Lynch Preferred Capital Trust V
- Fleet Capital Trust V
- Merrill Lynch S.A.
- Banc of America Securities LLC
- MBNA Europe Funding PLC
- Merrill Lynch Yen TOPrS Trust 1
- Fleet Capital Trust VI
- Fleet Capital Trust VIII
- Fleet Capital Trust IX
- BAC Canada Finance Company
- BANA Holding Corp
- BAC LB Capital Funding Trust I
- Merrill Lynch Japan Finance Co. Ltd.
- BAC North America Holding Co.
- BAC AAH Capital Funding LLC I
- BAC AAH Capital Funding LLC II
- BAC AAH Capital Funding LLC III
- BAC AAH Capital Funding LLC IV
- BAC AAH Capital Funding LLC V
- BAC AAH Capital Funding LLC VI
- BAC AAH Capital Funding LLC VII
- Banc of America Preferred Funding Corp.
- BAC AAH Capital Funding LLC VIII
- BAC AAH Capital Funding LLC IX
- BAC AAH Capital Funding LLC X
- BAC AAH Capital Funding LLC XI
- BAC AAH Capital Funding LLC XII
- BAC AAH Capital Funding LLC XIII
- BAC AAH Capital Funding LLC XIV
- Merrill Lynch Japan Securities Co. Ltd.
- BAC Capital Trust I
- BAC Capital Trust II
- BAC Capital Trust III
- BAC Capital Trust IV
- BAC AAH Capital Funding LLC XV
- BAC AAH Capital Funding LLC XVI
- BAC AAH Capital Funding LLC XVII
- BAC AAH Capital Funding LLC XVIII
- BAC AAH Capital Funding LLC XIX
- Lasalle Funding LLC
- Banc of America Securities Ltd.
- MBNA Capital D
- MBNA Capital E
- BAC Capital Trust V
- BAC Capital Trust VI
- BAC Capital Trust VII
- MBNA Canada Bank
- Countrywide Bank FSB
- BAC Capital Trust VIII
- BAC Capital Trust X
- BAC Capital Trust XI
- BAC Capital Trust XII
- Banc of America Dutch Auction Preferred Corp.
- BAC Capital Trust XIII
- BAC Capital Trust XIV
- Bank of America (California) N.A.
- BAC Capital Trust XV
- Merrill Lynch Capital Trust I
- Merrill Lynch Capital Trust II
- U.S. Trust Company N.A.
- Merrill Lynch Capital Trust III
- Merrill Lynch Bank & Trust Co. (Cayman) Ltd
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