S&P revises Bank of America to stable

Standard & Poor's said it revised its outlook on Bank of America Corp.'s (BofA) core and highly strategically important operating subsidiaries to stable from negative.

At the same time, the agency affirmed its A/A-1 issuer credit ratings on the bank’s operating subsidiaries.

The outlook on BofA's non-operating bank holding company remains negative and S&P is affirming the A-/A-2 issuer credit ratings. The standalone credit profile at the operating company level is bbb+.

S&P said it believes BofA has settled a substantial majority of its legacy mortgage-related litigation over the past few years. Coupled with increased clarity on BofA's regulatory issues and new regulatory thresholds, the outlook change reflects declining risks from these areas.

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