Fitch Revises BoA Outlook to Negative

Citing sensitivity to the residential mortgage market, Fitch Ratings has revised the rating outlook on Bank of America Corp. and its subsidiaries from stable to negative, while affirming all their outstanding ratings.The rating agency noted that the management of BoA recently announced that it will "increase provisions substantially to offset deterioration in home equity loans, and negative mark-to-market valuations in its mortgage-related holdings of collateralized debt obligations will be larger than previously anticipated." BoA said its earnings in the fourth quarter will decline "substantially" from previous levels. Fitch said it believes that unfavorable conditions in the credit markets will continue beyond the fourth quarter and "could put significant pressure on earnings into 2008." Fitch can be found on the Web at http://www.fitchratings.com.