Fitch: Bank of America view negative

Fitch Ratings said it revised the outlook on Bank of America Corp. and its subsidiaries to negative from stable, while affirming all outstanding ratings.

Fitch said the change reflects earnings sensitivity to trends in the deteriorating residential mortgage market.

According to the agency, management recently said it would boost provisions for offsetting weaker home equity loans and that negative mark-to-market valuations in its mortgage-related holdings of collateralized debt obligations would be larger than expected.

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