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Fitch Places 3 BofA ABCP Conduits On Rating Watch Negative

Tyler Durden's picture


Here is an example of how the blogosphere is destructive to the cataclysm that is the US economy: we present the truth. To wit: Fitch Ratings has placed the 'F1+sf' ratings on three Bank of America N.A.-sponsored ABCP conduits on Rating Watch Negative. Next up: all of BofA's MBS conduits to be downgraded on complete legalese  vacuum on pervasive fraud.

Fitch Ratings-New York-25 October 2010: Fitch Ratings has placed the 'F1+sf' ratings on three Bank of America N.A.-sponsored ABCP conduits on Rating Watch Negative.
The rating actions follow Fitch's Oct. 22 announcement to place the 'A+/F1+' IDR ratings of Bank of America N.A. on Rating Watch Negative. 
The ratings of the ABCP issued by the three conduits are linked to the ratings of Bank of America N.A. as the sponsor and direct credit and liquidity support provider.
Fitch has placed the following ABCP conduits, all rated 'F1+sf', on Rating Watch Negative:

  • Kitty Hawk Funding Corp.;
  • Ranger Funding, LLC;
  • Yorktown Capital

And one last question: we wonder when will the punditry realize that robosigning-type oversight issues could have easily bled out to such additional securitization markets as ABCP and pretty much everything else.


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Mon, 10/25/2010 - 14:32 | 675722 frankTHE COIN
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Present the truth and the Law Firm of Lenin, Stalin & Mao LLP, will hire cnbc to do its contracting.

Mon, 10/25/2010 - 14:53 | 675793 Miss Expectations
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Dewey, Cheatem & Howe

The Three Stooges

Mon, 10/25/2010 - 14:55 | 675798 NOTW777
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cnbc the worlds largest, most prolific purveyor of fraud.  day after day - no reporting on the facts or real economy.

Mon, 10/25/2010 - 16:59 | 676127 themacronavigator
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"extend and pretend" has many interest groups supporting it...


Mon, 10/25/2010 - 14:32 | 675723 LongSoupLine
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So eat that Erin Burnett...beotch.

Mon, 10/25/2010 - 15:07 | 675851 LongSoupLine
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now Pissani saying BAC issue is like BP issue...being overhyped.  What a complete shillsawing tool that wad of organic waste is.

Mon, 10/25/2010 - 14:33 | 675732 SWRichmond
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Bank Run!  Wooo Hoooo!

Mon, 10/25/2010 - 14:48 | 675780 unum mountaineer
unum mountaineer's picture

whoop whoop..talked to my mom about getting out of BofA over the weekend. just called her and told her to GTFO now. I'm probably gonna get my mouth washed out with soap...

Mon, 10/25/2010 - 15:11 | 675863 Farcical Aquati...
Farcical Aquatic Ceremony's picture

Did the same with my wife.  And that got me thinking, how many others are doing this?

Mon, 10/25/2010 - 14:34 | 675733 TheGreatPonzi
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Who cares about the mainstream medias, seriously? Let's ignore them. Internet will exterminate them anyway.

Mon, 10/25/2010 - 14:38 | 675747 treemagnet
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'cause its like hearing your wife say, "I was wrong....and you were....right".

Mon, 10/25/2010 - 14:36 | 675738 SheepDog-One
SheepDog-One's picture

Erin Burnett probably snorting up all her remaining coke right now. You wanna WAR! Come and get it! Say hello to my little B cup friends!

Mon, 10/25/2010 - 14:43 | 675763 redpill
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I've heard her sex tape is something to behold, however.

Mon, 10/25/2010 - 14:51 | 675785 SheepDog-One
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Wait, was Erin one of them in '2 Girls, 1 Cup'? OMG what a disgusting ho!

Mon, 10/25/2010 - 15:05 | 675841 ZeroPower
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Negative, pretty sure she was the fella in 1 guy 1 jar

Mon, 10/25/2010 - 14:50 | 675787 unum mountaineer
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she really is a card carrying memebr of the itty bitty committee...doesn't hold my attention at all

Mon, 10/25/2010 - 14:54 | 675795 Ragnarok
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Stop being RUDE!

Mon, 10/25/2010 - 14:38 | 675752 greenewave
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Friggin crooks...Check out the video "Party Like It's 1929" at for more info on the BAC disaster.

Mon, 10/25/2010 - 14:42 | 675755 99er
Mon, 10/25/2010 - 14:40 | 675756 sweet ebony diamond
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Benjamin, we need a drop over here in Sector CR. Do you copy?

Mon, 10/25/2010 - 14:54 | 675794 High Plains Drifter
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Roger . Will do drop in about a week after election. over


Mon, 10/25/2010 - 14:46 | 675774 aint no fortuna...
aint no fortunate son's picture

GOD, where's Ken Lewis when we need him? He'd turn this ship around.

Mon, 10/25/2010 - 14:53 | 675792 Howard_Beale
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Yeah, he'd hit the iceberg head-on instead of circling it. Miss old Kenny boy.

Mon, 10/25/2010 - 15:07 | 675808 Pegasus Muse
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Ken.  Call Tangelo.  He's got the inside dope on buying off the SEC.

Mon, 10/25/2010 - 14:56 | 675802 eatthebanksters
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BAC, burn in hell!

Mon, 10/25/2010 - 15:00 | 675820 mikla
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LMAO, remember, these three are CURRENTLY rated "F1":

F1:  best quality grade, indicating exceptionally strong capacity of obligor to meet its financial commitment

Zis is zee highest kwalitee!  Only da best fo you!

Mon, 10/25/2010 - 18:04 | 676219 mynhair
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All your kwalitee is belong to me.

Mon, 10/25/2010 - 15:07 | 675852 bugs_
bugs_'s picture

just unplug the damn conduit

Mon, 10/25/2010 - 15:11 | 675865 ratava
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die JP Morgan, die. we hope all the bank CDS you sold tear a hole in your undead ass.

Mon, 10/25/2010 - 15:34 | 675933 Comrade de Chaos
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More cowbell please.

Defaultous is comin!

Someone, anyone !

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