Standard & Poor's Ratings Services' ratings on Bank of America Corp. (BofA) are a function of our belief that the company is a highly systemically important institution. As such, we believe that additional extraordinary government support would be provided to BofA if, contrary to our expectation, this were needed. This assumption of government support is reflected in a three-notch ratings uplift in our rating ('A' holding company) from BofA's stand alone credit profile (SACP). The fundamental basis for our ratings includes our consideration of BofA's success in creating what we believe is the first true U.S. nationwide banking franchise and in converting this competitive advantage into improved financial performance. A key strength for BofA is its retail bank network and...
Companies mentioned in this report are:
- Bank of America Corp.
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