Fitch affirms Bank of America

Fitch Ratings said it affirmed Bank of America Corp.'s B preferred and trust preferred stock ratings from Rating Watch negative.

The long- and short-term issuer default ratings were affirmed at A+ and F1+, respectively.

The agency said that with pressure abating somewhat on the company's preferred level, it is less likely that BofA will need to defer dividends on its trust preferreds or omit dividends on its preferreds.

Asset quality concerns problems remain severe and continue to restrain preferred, trust preferred and bank individual ratings, the agency noted.

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