Crisil has revised its rating outlook on the long-term guaranteed debt of DSP Merrill Lynch Capital to ‘Negative’ from ‘Stable’. The revision is driven by Standard & Poor’s (S&P’s) rating action on the guarantor, Merrill Lynch, and on its parent, Bank of America.
S&P has downgraded its ratings on Bank of America Corp and Merrill Lynch to ‘A/Negative/A-1’ from ‘A+/Negative/A-1’.