Various Rating Actions Taken On 19 Bank of America LOC-Supported Bonds Dec 11

  • ID: 2035969
  • December 2011
  • Region: America, United States
  • Standard & Poors
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NEW YORK (Standard & Poor's) Dec. 29, 2011--Standard & Poor's Ratings Services today lowered its rating on one bond that is fully supported by a letter of credit (LOC) from Bank of America N.A. At the same time, we affirmed our ratings on 18 other bonds fully supported by LOCs from Bank of America N.A. Today's rating actions reflect the Nov. 29, 2011, downgrade of our issuer credit rating (ICR) on Bank of America N.A. to 'A/A-1' from 'A+/A-1' and the application of our joint support criteria (see "Joint-Support Criteria Update," published April 22, 2009). We downgraded one bond after applying our joint-support criteria using our lowered rating on Bank of America N.A., the LOC provider, and our rating on...

Companies mentioned in this report are: Nassau Cnty
Action: Affirmed
Action: Downgraded

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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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Nassau Cnty

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