NEW YORK, Aug 20 (Reuters) - Fitch Ratings on Friday raised Bank of America Corp's preferred stock and trust preferred ratings to investment-grade.
The rating agency said it raised the preferred stock rating to BBB-minus from BB-minus and its trust preferred rating to BBB-minus from BB.
The upgrades reflect Bank of America's efforts to boost common equity and liquidity.
(Reporting by Caryn Trokie) Keywords: BANKAMERICA FITCH (caryn.trokie@thomsonreuters.com ; + 1 646-223-6318; Reuters Messaging: caryn.trokie.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The rating agency said it raised the preferred stock rating to BBB-minus from BB-minus and its trust preferred rating to BBB-minus from BB.
The upgrades reflect Bank of America's efforts to boost common equity and liquidity.
(Reporting by Caryn Trokie) Keywords: BANKAMERICA FITCH (caryn.trokie@thomsonreuters.com ; + 1 646-223-6318; Reuters Messaging: caryn.trokie.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.