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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frankTHE COIN's picture

Present the truth and the Law Firm of Lenin, Stalin & Mao LLP, will hire cnbc to do its contracting.

NOTW777's picture

cnbc the worlds largest, most prolific purveyor of fraud.  day after day - no reporting on the facts or real economy.

themacronavigator's picture

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


LongSoupLine's picture

So eat that Erin Burnett...beotch.

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.

SWRichmond's picture

Bank Run!  Wooo Hoooo!

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...

Farcical Aquatic Ceremony's picture

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

TheGreatPonzi's picture

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

treemagnet's picture

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

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!

redpill's picture

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

SheepDog-One's picture

Wait, was Erin one of them in '2 Girls, 1 Cup'? OMG what a disgusting ho!

ZeroPower's picture

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

unum mountaineer's picture

she really is a card carrying memebr of the itty bitty committee...doesn't hold my attention at all

greenewave's picture

Friggin crooks...Check out the video "Party Like It's 1929" at for more info on the BAC disaster.

sweet ebony diamond's picture

Benjamin, we need a drop over here in Sector CR. Do you copy?

High Plains Drifter's picture

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


aint no fortunate son's picture

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

Howard_Beale's picture

Yeah, he'd hit the iceberg head-on instead of circling it. Miss old Kenny boy.

Pegasus Muse's picture

Ken.  Call Tangelo.  He's got the inside dope on buying off the SEC.

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!

mynhair's picture

All your kwalitee is belong to me.

bugs_'s picture

just unplug the damn conduit

ratava's picture

die JP Morgan, die. we hope all the bank CDS you sold tear a hole in your undead ass.

Comrade de Chaos's picture

More cowbell please.

Defaultous is comin!

Someone, anyone !