The ratings agency said Bank of America’s plan to buy Countrywide in a $4 billion all-stock deal is detrimental to Bank of America’s capital position because the amount of equity being issued is modest in relation to the total assets being acquired. On news of the deal, Moody’s put the Aa1 credit rating of Bank of America and the A financial-strength rating of Bank of America NA under review for possible downgrade. Countrywide Financial and Countrywide Home Loans senior debt is rated Baa3 while Countrywide Bank FSB’s bank financial strength rating is C-minus. Fitch left its Bank of America ratings on negative watch but otherwise affirmed them and similarly put Countrywide on review for upgrade. Bank of America, Countrywide ratings under review - MarketWatch Intraday data provided by Comstock , a division of Interactive Data Corp. Read More