Moody's may upgrade Bank of America

Moody's said it placed on review for upgrade all long-term and short-term ratings of Bank of America Corp. (senior debt at A3, short-term at Prime-2) as well as the long-term ratings and assessments of its lead bank, Bank of America, NA (BANA, Aa3 for deposits) and of certain other subsidiaries.

Moody's also affirmed the Prime-1 short-term ratings and P-1(cr) counterparty risk assessments at BANA and its rated branches.

“The review for upgrade reflects Bank of America's strengthening profitability, especially from its non-capital markets businesses, continued maintenance of its conservative risk appetite, and stable capital ratios despite an increase in capital payouts,” Moody’s said in a news release.

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