Moody's Investors Service Inc. may be on a course to boost bank ratings to levels that have not been seen since the late 1980s.

After upgrading the debt of BankAmerica Corp. to A1 from A2 on Wednesday, Moody's suggested further increases might be forthcoming by placing a positive "outlook" on the bank. At the same time, the rating agency upgraded its outlooks on Chase Manhattan Corp., Citicorp, and Chemical Banking Corp.

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