DBRS Discontinues Rating Barnett Capital III Trust Preferred Securities

DBRS, Inc. (DBRS) has today discontinued the ratings of the Trust Preferred Securities issued by Barnett Capital III. The securities were redeemed on July 27, 2015.

Barnett Capital III is an affiliate of Bank of America Corporation (BAC). BAC, including its Issuer & Senior Debt rating of A (low) 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 methodologies used include the DBRS Criteria: Support Assessment for Banks and Banking Organizations and DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities. These can be found on the DBRS website under Methodologies.

The primary 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
Initial Rating Date: 01 November 2006
Most Recent Rating Update: 21 August 2014

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