Summary: Bank of America Corp. - 2009/03/20 - S&P Credit Research

Report title: Summary: Bank of America Corp.

from S&P Credit Research
1082 word report published Mar 20, 2009

Price $175.00 available for immediate download

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Abstract:

Standard&Poor's Ratings Services' ratings on Bank of America Corp. (BofA) are based on its 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 of approximately 6,100 branches and an unrivaled distribution network, from which it gathers stable and inexpensive core deposit funding. BofA's profitability measures were stronger than many peers' in 2008 but were still substantially reduced from normal run rate levels as a result of the market turmoil. Still, BofA is a highly diverse institution and its profile provides for a strong mix of banking and nonbanking revenue sources. This was enhanced,

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RESEARCH Ratings Definitions Summary: Bank of America Corp. Publication date: 20-Mar-2009 Primary Credit Analyst: John K Bartko, C.P.A., New York (1) 212-438-7368; john_bartko@standardandpoors.com Secondary Credit Analyst: Scott Sprinzen,...

Report Type:

Summary

Ticker:

BAC

Issuer:

Bank of America Corp.

GICS:

Other Diversified Financial Services (40201020)

Sector:

Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, Insurance, Public Finance, Residential MBS, Structured Finance, Utilities

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.

Also from S&P Credit Research

Bulletin: Bank of America Corp. Rating Unaffected By Third-Quarter Loss $100.00
NEW YORK (Standard&Poor's) Oct. 16, 2009--Standard&Poor's Ratings Services said today that its rating on Bank of America Corp. (BAC; A/Stable/A-1, holding company) is not affected by the company's just-announced third-quarter loss. BAC reported ...
Bulletin: Bank of America Corp. Rating Unaffected By Retirement Of President And CEO $100.00
NEW YORK (Standard&Poor's) Oct. 1, 2009--Standard&Poor's Ratings Services said today that its ratings on Bank of America Corp. (A/Stable/A-1) and its subsidiaries are not affected by the company's announcement that Kenneth D. Lewis, its CEO ...
Bulletin: Bank of America Corp. Ratings Unaffected By Announcement Of Second-Quarter 2009 Earnings $100.00
NEW YORK (Standard&Poor's) July 17, 2009--Standard&Poor's Ratings Services said today that its ratings on Bank of America Corp. (BofA; A/Stable/A-1, holding company) are not affected by the company's just-announced second-quarter 2009 earnings. ...
Bank of America Corp. 'A/A-1' Rating Affirmed, Off CreditWatch; Outlook Stable $100.00
-- 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 ...
Research Update: Bank of America Corp. 'A/A-1' Rating Affirmed, Removed From CreditWatch; Outlook Stable $175.00
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. ...
Research Update: Bank of America Corp. 'A/A-1' Rating Placed On CreditWatch Negative; Hybrid Securities Ratings Lowered To 'B' From 'BB' $175.00
We believe that Bank of America may need to rebuild its capitalization given our expectation for credit losses. We are placing our ratings on Bank of America on CreditWatch with negative implications. At the same time, we are lowering our rating ...
Bulletin: Bank of America Corp. Ratings Not Affected By Improved First-Quarter Results $100.00
NEW YORK (Standard&Poor's) April 21, 2009--Standard&Poor's Ratings Services said today that its ratings on Bank of America Corp. (BofA; A/Negative/A-1) would not be affected by the company's announced first-quarter earnings results. BofA's ...
Bank of America Corp. $400.00
One-of-a-kind national banking franchise providing highly leverageable distribution platform A good mix of banking and nonbanking businesses Strong parent-company liquidity Integration risk with acquisitions of Countrywide Financial Corp. and ...

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