Rating Action: Moody's assigns provisional Aaa (sf) to Bank of America's Class A (2015-1) card ABS
Global Credit Research - 02 Feb 2015
Moody's Investors Service has assigned a provisional Aaa (sf) rating to the BAseries Class A(2015-1) Notes to be issued by the BA Credit Card Trust (Trust), sponsored by Bank of America, N.A. (Bank of America).
Moody's rating action is as follows:
Issuer: BA Credit Card Trust, BAseries
BAseries Class A(2015-1) Notes, Assigned (P)Aaa (sf)
Bank of America Corp. (NYSE:BAC) and Wells Fargo & Co. (NYSE:WFC), as the nation's top issuers of debit cards, were handed a victory with the U.S. Supreme Court's decision to let stand a Federal Reserve rule on how much the banks can collect from transactions, according to Bloomberg.
The news service reports a retail industry group led by NACS, formerly known as the National Association of Convenience Stores, had challenged the regulation, saying it didn't go far enough.
Merrill lynch had $2.03 trillion in client assets by the end of the fourth quarter
Bank of America Corp.’s wealth-management division contributed to nearly a quarter of the banking giant’s total revenue, underscoring the unit’s growing importance and its gains in attracting client assets.
Citigroup Inc. (“Citigroup”) announced today the expiration and final tender results of its previously announced cash tender offers. These Offers, in which Notes totaling approximately U.S. $1.15 billion are being accepted, are consistent with Citigroup’s liability management strategy, and reflect its ongoing efforts to enhance the efficiency of its funding and capital structure. Since 2013, Citigroup redeemed or retired U.S. $20.3 billion of securities, excluding exchanged securities, of which U.S. $8.0 billion was redeemed or retired in 2014, reducing Citigroup’s overall funding costs