S&P: Bank of America unchanged

Standard & Poor's said its ratings on Bank of America Corp. (AA-/watch negative/A-1+) and its subsidiaries are not affected by recent earnings and other announcements.

The ratings remain on Creditwatch negative, where they were placed Sept. 15, after announcement of the company's planned Merrill Lynch acquisition, the agency said.

S&P noted that this follows the company's early earnings release, which included positive net income of about $1.2 billion, adding that Bank of America's quarter included continued asset-quality deterioration as charge-offs continued to climb and provisioning remained elevated as reserves were bolstered.

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