DBRS Discontinues Rating Progress Capital Trust IV Trust Preferred Securities

DBRS Inc. (DBRS) has today discontinued the ratings of the Trust Preferred Securities issued by Progress Capital Trust IV. The securities were redeemed on July 7, 2013.

Bank of America Corporation, including its Issuer & Senior Debt rating of “A” with Stable trend, is unaffected by today’s action.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations. Other applicable methodologies include the DBRS Criteria – Intrinsic and Support Assessments and DBRS Criteria: Rating Bank and Bank Holding Company Trust Preferred Securities. These can be found can be found at: http://www.dbrs.com/about/methodologies

[Amended on September 4, 2014, to reflect actual methodologies used and addition of RC Chair.]

The sources of information used for this rating include company documents and SNL Financial. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: William Schwartz
Rating Committee Chair: Roger Lister
Initial Rating Date: 06 April 2006
Most Recent Rating Update: 27 September 2011

For additional information on this rating, please refer to the linking document under Related Research.