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Bank of America Corp. Feb 04
Standard & Poors, Feb 2004
Abstract
Strong retail and commercial banking franchise stretching across the country Well-diversified revenue stream and fee-based income sources Improving asset quality, especially in large corporate loan book Good liquidity at both the bank and parent company Aggressive capital management Uneven financial performance in Global Corporate & Investment Bank (GCIB) The ratings on Bank of America Corp. (BoA) are based on its premier consumer and commercial banking franchise that expands from coast to coast, complemented by corporate & investment banking, credit cards, and asset management businesses that operate in the national markets. BoA is finally reaping the financial benefits of this well-diversified business mix in terms of improved profitability and asset quality performance. Current ratings also take into consideration BoA's forthcoming acquisition...
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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