| Abstract: | NEW YORK (Standard&Poor's) Sept. 15, 2008--Standard&Poor's Ratings Services said today that it lowered its long-term counterparty credit rating on Bank of America Corp. (BofA) to 'AA-' from 'AA'. The long-term ratings of its subsidiaries were also lowered one notch. The long-term ratings on BofA's holding company and its bank subsidiaries were placed on CreditWatch with negative implications. At the same time, Standard&Poor's placed its ratings on Merrill Lynch&Co. Inc. (Merrill Lynch)--including the holding company 'A' long-term and 'A-1' short-term counterparty credit ratings--as well as the ratings of all related entities on CreditWatch with developing implications, meaning ratings could be raised, lowered, or affirmed. These actions follow BofA's agreement to acquire Merrill Lynch
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| Brief Excerpt: | RESEARCH Ratings Definitions Bank of America Downgraded, Ratings Put On Watch Negative; Merrill Lynch On Watch Developing Publication date: 15-Sep-2008 Primary Credit Analysts: John K Bartko, C.P.A., New York (1) 212-438-7368; john_bartko@standardandpoo...
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| Report Type: | Ratings Action
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| Ticker: | BAC
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| Issuer: | Bank of America Corp.
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| GICS: | Other Diversified Financial Services (40201020)
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Financial Institutions, Global Issuers, Insurance, Public Finance, Residential MBS, Structured Finance
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| Country: | United States
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| Region: | United States
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