Business Services Industry
USA: RATING TO BANC OF AMERICA SECURITIES.(Brief Article)
IPR Strategic Business Information Database, February, 2004
Moody's Investors Service assigned a Prime-1 short-term rating to Banc of America Securities LLC (BAS). BAS is indirectly-owned by Bank of America Corporation (BAC), which carries a Aa2 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 of Bank of America NA, which is the legal entity that provides credit (loans, leases, letters-of-credit) and treasury services to clients. The credit profile of BAS benefits not only from name recognition but also from its commercial relationships with its...
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