Business Services Industry
RATING TO BANC OF AMERICA SECURITIES
Info-Prod Research (Middle East), February, 2004
Moody's Investors Service assigned a Prime-1 short-term rating to Banc of America Securities LLC (BAS). BAS isindirectly-owned by Bank of America Corporation (BAC), which carries aAa2 rating on holding company senior debt. As a registered broker-dealer,BAS is engaged in debt and equity underwriting as well as providing M&A advisory and other services to corporate clients.
Moody's added that the rating outlook on BAS is stable. According to Moody's, the business of BAS is closely linked with that ofBank of America NA, which is the legal entity that provides credit(loans, leases, letters-of-credit) and treasury services to clients. Thecredit profile of BAS benefits not only from name recognition but alsofrom its commercial relationships with its affiliates. The rating agency...
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