...Change in Fitch's View of Support: Given that Bank of America Corporation`s (BAC) long- term Issuer Default Rating (IDR) is at its support rating floor (SRF) of A`, any change in Fitch`s views of support will impact BAC`s IDR. Fitch Ratings has indicated that it expects support to be eliminated in the U.S., and as a result Fitch has placed BAC`s IDR on Rating Outlook Negative. Fitch would expect the IDR to be equalized with the viability rating (VR) of a¡` when Fitch revises BAC`s Support Rating to 5` and SRF to No Floor` within the next one to two years, likely to be at some point in late 2014 or in 1H15. Remaining Litigation Risks: BAC has been resolving legacy litigation exposures, including a recent settlement with the Federal Housing and Finance Administration (FHFA) regarding private label residential mortgage securitizations (PLS). BAC received court approval for BNY Mellon as PLS settlement trustee, though this is being appealed. Remaining outstanding issues include litigation and...
