DBRS Discontinues Rating Merrill Lynch Preferred Capital Trust III, IV, and V Securities

DBRS, Inc. (DBRS) has today discontinued the ratings of the Trust-Originated Preferred Securities (TOPrS) issued by Merrill Lynch Preferred Capital Trusts III, IV and V. The securities were redeemed on January 29, 2016.

Merrill Lynch Preferred Capital Trusts are affiliates of Bank of America Corporation (BAC). BAC, including its Issuer & Senior Debt rating of A (low) with Positive 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 (December 2015). Other methodologies used include the DBRS Criteria: Support Assessment for Banks and Banking Organisations (December 2015) and DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (February 2015). 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: Lisa Kwasnowski
Initial Rating Date: 01 November 2006
Most Recent Rating Update: 11 December 2015

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