• 18 Nov 2009 at 4:03 PM

Bank Of America A Solid C-Minus, Moody’s Says

By John Shazar

cminus.jpgWhat a day for Ken Lewis & Co.! First, one of the savviest hedge fund managers out there gives BofA a big thumbs up (take that, Steve Cohen and Jim Simons). Next, someone we’ve actually heard of kinda sorta suggested he might take the Worst Job on Wall Street (BofA is, after all, a public company).
Now, the very ratings agency that kneecapped UBS earlier today said it is not quite as pessimistic about BofA.
Moody’s Investors Service said that Bank of America doesn’t suck quite as much as some people may have suggested, upgrading the outlook on its financial strength regulation. Sure, it upgraded it from the ominous-sounding D to the not-exactly-confidence-inspiring C-minus, but that’s better than D, right?

The upgrade reflects Moody’s expectations regarding sustained improvement in Bank of America’s capital ratios following a significant capital raise earlier this year.

Keep up the good work (for the next six weeks), Ken Lewis.
Moody’s upgrades B. of A. unit, outlook stable [MarketWatch]

Comments (11)

  1. 1
    Posted by guest | November 18, 2009 at 4:18 PM

    Richard: “Mr. Callahan, I need your John Hancock on these reports.”
    Tommy: “John Hancock. It’s Herbie Hancock. Duh!”

  2. 2
    Posted by overachiever | November 18, 2009 at 4:23 PM

    C’s get degrees…

  3. 3
    Posted by pfluger | November 18, 2009 at 4:25 PM

    Moody’s puts these nice little ticklers at the end of their reports about “what can change the rating up” and “what can change the rating down”, and they add alot of insight to their research.
    Examples:
    What can change the rating up: Improved operating margins, loan performance, and improved capital ratios.
    What can change the rating down: diminished operating and loan performance, and weakened capital ratios.
    That way everyone will know what to expect, and there will never be any rating surprises, ever. It cutting edge stuff.

  4. 4
    Posted by guest | November 18, 2009 at 4:35 PM

    Is it possible Moody’s uped it rating becuz Dealbreaker reported Paulson thinks BofA can earn $3 eps by the end of 2011.
    You know the rater fools don’t make a move till the media reports the facts right?

  5. 5
    Posted by Seaman Bodine II | November 18, 2009 at 4:39 PM

    Paulson should carve out his BofA holdings, and setup a new fund. It’s a cool way to make it happen.
    ESL

  6. 6
    Posted by guest | November 18, 2009 at 4:42 PM

    What do you call a doctor that graduated with a C- average. That’s right bitches you still call him Dr.
    http://www.monkeysee.com/play/3692-can-a-student-with-a-c-average-or-lower-be-admitted-to-a-college
    KL

  7. 7
    Posted by guest | November 18, 2009 at 4:48 PM

    If she has some “Cs” then she’s for me.

  8. 8
    Posted by guest | November 18, 2009 at 4:52 PM

    Dint tyke long fuh yew wankehs tuh git brist talk to get stahted in this thrid.
    ~A. Drury
    New South Wales
    Austrailiar

  9. 9
    Posted by guest | November 18, 2009 at 5:31 PM

    I give this post a solid C-, too. Shazzaloompa Shalom, you suck!

  10. 10
    Posted by guest | November 18, 2009 at 8:58 PM

    IBK bankers are a C- as well!!!

  11. 11
    Posted by guest | November 18, 2009 at 10:03 PM

    @2 Fuckin’ A right C- avg. means I was twice as efficient as the A students.

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