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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 | Link to Comment 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 | Link to Comment Miss Expectations
Miss Expectations's picture

Dewey, Cheatem & Howe

The Three Stooges

http://www.123posters.com/stooges7.htm

Mon, 10/25/2010 - 14:55 | Link to Comment 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 | Link to Comment themacronavigator
themacronavigator's picture

"extend and pretend" has many interest groups supporting it...

 

 

http://themacronavigator.blogspot.com

 

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

Mon, 10/25/2010 - 15:07 | Link to Comment LongSoupLine
LongSoupLine's picture

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 | Link to Comment SWRichmond
SWRichmond's picture

Bank Run!  Wooo Hoooo!

Mon, 10/25/2010 - 14:48 | Link to Comment 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 | Link to Comment 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 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

Who cares about the mainstream medias, seriously? Let's ignore them. Internet will exterminate them anyway.

Mon, 10/25/2010 - 14:38 | Link to Comment treemagnet
treemagnet's picture

'cause its like hearing your wife say, "I was wrong....and you were....right".

Mon, 10/25/2010 - 14:36 | Link to Comment 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 | Link to Comment redpill
redpill's picture

I've heard her sex tape is something to behold, however.

Mon, 10/25/2010 - 14:51 | Link to Comment 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 | Link to Comment ZeroPower
ZeroPower's picture

Negative, pretty sure she was the fella in 1 guy 1 jar

Mon, 10/25/2010 - 14:50 | Link to Comment unum mountaineer
unum mountaineer's picture

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 | Link to Comment Ragnarok
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Stop being RUDE!

Mon, 10/25/2010 - 14:38 | Link to Comment greenewave
greenewave's picture

Friggin crooks...Check out the video "Party Like It's 1929" at http://youtu.be/an0kTILeXic for more info on the BAC disaster.

Mon, 10/25/2010 - 14:42 | Link to Comment 99er
Mon, 10/25/2010 - 14:40 | Link to Comment 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 | Link to Comment High Plains Drifter
High Plains Drifter's picture

Roger . Will do drop in about a week after election. over

 

Mon, 10/25/2010 - 14:46 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment eatthebanksters
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BAC, burn in hell!

Mon, 10/25/2010 - 15:00 | Link to Comment mikla
mikla's picture

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 | Link to Comment mynhair
mynhair's picture

All your kwalitee is belong to me.

Mon, 10/25/2010 - 15:07 | Link to Comment bugs_
bugs_'s picture

just unplug the damn conduit

Mon, 10/25/2010 - 15:11 | Link to Comment ratava
ratava's picture

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 | Link to Comment Comrade de Chaos
Comrade de Chaos's picture

More cowbell please.

Defaultous is comin!

Someone, anyone !

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