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Sunday, Feb 5, 2023

Countrywide Credit Rating is ‘Junked’

Bank of America’s stock rose, while Countrywide’s fell May 2 on news that Standard & Poor’s ratings service cut the credit rating of Countrywide to junk status. A new SEC filing yesterday by Bank of America cast doubt on whether they would be ” redeeming, assuming or guaranteeing some or all of (Countrywide’s) debt ” and was cited by S & P; as the prompt for the status change.

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