Financially Secure Banks

TheAnalyst
Wed, 16 Jul 2008 17:25:15 +0000

“Bank of America also looks fine.”

I would note that Fitch downgraded BofA today from AA to A+.
“NEW YORK, July 16 (Reuters) - Fitch Ratings on Wednesday cut its ratings on Bank of America Corp (BAC.N: Quote, Profile, Research), citing losses from marking down assets including home loans and the potential for other losses including in its credit card portfolio.”

I know the rating agencies have been lambasted in the press, but I would still rely on their judgment as the best available. S&P lists the ratings on 577 financial institutions for free on their web site. For example, they currently carry a AA on Bank of America, but with a negative outlook so that indicates a likely downgrade. With that said, an “A+” rating is still very decent. The list lets you see every financial institution you could possibly care about and compare.
Home | S&P Global Ratings;

Moody’s website is unfortunately subscription only, but Fitch lets you see all of their ratings for free. It can be confusing, but is a place to start if you really have concerns.