Research Update: Bank of America Corp. 'A/A-1' Rating Affirmed, Removed From CreditWatch; Outlook Stable - 2009/05/08 - S&P Credit Research

Report title: Research Update: Bank of America Corp. 'A/A-1' Rating Affirmed, Removed From CreditWatch; Outlook Stable

from S&P Credit Research
1834 word report published May 08, 2009

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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

Brief Excerpt:

RESEARCH Ratings Definitions Research Update: Bank of America Corp. 'A/A-1' Rating Affirmed, Removed From CreditWatch; Outlook Stable Publication date: 08-May-2009 Primary Credit Analyst: John K Bartko, C.P.A., New York (1) 212-438-7368;...

Report Type:

Research Update

Ticker:

BAC

Issuer:

Bank of America Corp.

GICS:

Other Diversified Financial Services (40201020)

Sector:

Global Issuers, Public Finance, Structured Finance

Country:

United States

Region:

United States

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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