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S&P Credit Research978 word report
published Sep 15, 2008
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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
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...
Report Type: News
Ticker: BACIssuer: Bank of America Corp.GICS: Other Diversified Financial Services (40201020)Sector: Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Financial Institutions, Global Issuers, Insurance, Public Finance, Residential MBS, Structured FinanceCountry: United StatesRegion: United StatesFree Sample: Click
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S&P Credit ResearchS&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.
