Moody's ups ABN Amro North America, LaSalle

Moody's Investors Service said it upgraded the ratings of ABN Amro North America Holding Co., its direct subsidiary, LaSalle Bank Corp. and other subsidiaries, which include the lead bank subsidiary, LaSalle Bank NA.

The bank financial strength rating of LaSalle Bank NA was upgraded to A from B- and its long-term deposit rating to Aaa from Aa3, the agency said, noting that the rating action follows the acquisition of ABN Amro North America by Bank of America Corp.

The outlook is stable.

Moody's said the rating action reflects the strengthened credit profile of ABN Amro North America and its subsidiaries due to ownership by Bank of America.

The ratings of LaSalle's bank subsidiaries now mirror those of Bank of America, NA, the agency said.

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