B of A Parent’s Debt Rating Raised:...
From Times Staff and Wire Service Reports
B of A Parent’s Debt Rating Raised: Fitch Investors Service raised BankAmerica’s senior debt rating to A-plus from A-minus, citing the San Francisco banking company’s turnaround. The New York rating agency credited BankAmerica, parent of Bank of America, with putting more emphasis on West Coast regional banking, which has made it more profitable and lowered its proportion of risky assets. But Fitch added that BankAmerica’s exposure to problem foreign loans remains a risk.
