Duff & Phelps Raises B of A Debt Ratings

CHICAGO - Duff & Phelps Credit Rating Co. upgraded the ratings of BankAmerica Corp. and its subsidiary banks.

Duff & Phelps lifted BankAmerica's senior debt to A-plus from A, its subordinated debt to A from A-minus, and its preferred stock to A-minus from BBB-plus.

The agency said its action reflects BankAmerica's strong market position in several strategically important businesses that position the company to produce more consistent results through the economic cycle.

"The current business mix provides the company with a revenue base that is well diversified from both a geographic and product line standpoint," said the agency.

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