Countrywide Fin.05/10 Flr Isin: Xs0236024310

[maxinblack]

Countrywide Bba3 e' stata comprata dalla Bank of America Aa1 e quota su 61, (si vedono i grafici su Erste bank)non vi sembra che Bank of America sia abbatanza solida da coprire le perdite di Countrywide, e pertanto quest' ultima sia un occasione d acquisto?

[cricket72]

Bank of America Corporation
Confirms at AA (low), Changes Trend to Stable

Date Of Release: Jan 11, 2008 08:59

DBRS has today confirmed all ratings for Bank of America Corporation (Bank of America or the Company) and related entities and changed the long-term rating trend to Stable from Positive.

This rating action follows an announcement by the Company that it has agreed to acquire Countrywide Financial Corporation (Countrywide) in an all-stock transaction valued at approximately $4 billion. While this acquisition may yield substantial strategic benefits to Bank of America over the long term, it also involves significant risks.

The rating confirmation reflects the view of DBRS that Bank of America has a strong franchise and robust recurring earnings power. Bank of America’s very strong liquidity and its sound capitalization also support the Company’s ratings. The trend change from Positive to Stable reflects the view of DBRS that the risks inherent in the Countrywide acquisition make an upgrade less likely over the short- to medium-term.

By acquiring Countrywide, Bank of America becomes the largest mortgage originator and servicer in the United States. Countrywide brings a robust technology platform, a nationwide office network and experienced management. However, the Company will not likely be able to realize the full benefits of this transaction until mortgage markets stabilize and origination volumes recover. DBRS does not expect this recovery to occur in the short term.

At the same time, Countrywide’s significant mortgage portfolio contains the risk of further losses, particularly if U.S. housing prices continue to decline. In addition, Countrywide is currently involved in a number of legal disputes and subject to regulatory inquiries that could impact its business.

DBRS recognizes that these risks are reflected in the transaction price, which represents a significant discount to Countrywide’s book value. Still, Bank of America faces the risk that losses may ultimately be larger than anticipated within its agreed purchase price.

In the view of DBRS, Bank of America has a strong track record of integrating past acquisitions. Still, DBRS notes that Bank of America is currently integrating its recent acquisition of ABN Amro North America Holding Company, the holding company of LaSalle Bank. At the same time, the Company is currently conducting a strategic review of its capital markets and investment banking operations and integrating its wealth management company, U.S. Trust Corporation.

The rating trend change reflects the view of DBRS that the Countrywide acquisition poses additional demands on Bank of America’s resources at a time when the Company faces a number of other challenges.

[i98mark]

Originalmente inviato da maxinblack

Countrywide Bba3 e' stata comprata dalla Bank of America Aa1 e quota su 61, (si vedono i grafici su Erste bank)non vi sembra che Bank of America sia abbatanza solida da coprire le perdite di Countrywide, e pertanto quest' ultima sia un occasione d acquisto?

Direi di sì ... 500 mln euro il valore dell'emissione, 50 k il minimo...

[giveme5]

Interessante, ma 50.000 min.

chi fosse interessato c'è anche questo, sempre 50.000 min., scad. tra 10 mesi
http://anleihen.onvista.de/snapshot....E=XS0192930765

[i98mark]

Originalmente inviato da giveme5

Interessante, ma 50.000 min.

chi fosse interessato c'è anche questo, sempre 50.000 min., scad. tra 10 mesi
http://anleihen.onvista.de/snapshot....E=XS0192930765

Secondo me vale la pena... alctro che GMAC, scusate...

Un bel bollino a giveme5 per la segnalazione...

[maxinblack]

Originalmente inviato da i98mark

Direi di sì ... 500 mln euro il valore dell'emissione, 50 k il minimo...

50 k il minimo, ma si prende a 61 quasi meta' prezzo..... se il rating si riprende si riallinea anche il prezzo, ...

[giveme5]

Originalmente inviato da maxinblack

50 k il minimo, ma si prende a 61 quasi meta' prezzo..... se il rating si riprende si riallinea anche il prezzo, ...

Pane al pane ....... qui il merito dell'idea è tutta di maxinblack
verdebollato!

[maxinblack]

Originalmente inviato da giveme5

Interessante, ma 50.000 min.

chi fosse interessato c'è anche questo, sempre 50.000 min., scad. tra 10 mesi
http://anleihen.onvista.de/snapshot....E=XS0192930765

tutte e due con 50k, concordo, ma questa e' gia risalita a 80, l ' altra deve ancora riprendersi e' a 62, non concordo sul breve termine il settore dei mutui puo' essere in crisi, ma e' un settore che esistera' sempre come le banche,non puo' sparire come un industria qualsiasi e nel medio lungo termine si riprendera' e ' per questo che queste mega banche si pappano questi bocconi avvelenati, nel lungo termine tornera' ad essere il bussiness strategico che e ' sempre stato, e per chi ha fegato gli affari si fanno adesso.

[maxinblack]

Originalmente inviato da giveme5

Pane al pane ....... qui il merito dell'idea è tutta di maxinblack
verdebollato!

Ti ringrazio, ma non ho nessun merito, vi ho girato solamente una raccomandazione d' acquisto tratta da una newsletter a cui sono abbonato che vi posto:
trad automatica dal tedesco ma comprensibile

! Corporate Bonds
"This is the six in the lottery, the acquisition of Countrywide Financial by Bank of America is the
Best result was at my speculation on the Countrywide Financial Bonds out. Mind you
For the bonds, because for the shareholders is a great deal of disappointment, which also prompt lawsuits are
Drawn.
The price jump course of the bonds fell massively. The quotations for the bonds with maturity exploded from 2010
The status of 60% to 85% and then 87%. An increase in value by 45% in two trading days.
What is the deal in detail? The Bank of America will pay the shareholders of Countrywide Financial for each of their shares
0.1822 shares. The announcement corresponded to an equivalent value of 4.34 billion dollars. The takeover aims
At the end of the 3rd Quarter completed.
The credit ratings will now adapt. And the differences are substantial. In mid-August, Countrywide
Financial Moody! S from "A3" to "Baa3" and also downgraded with a negative outlook. The negative
Outlook was withdrawn in mid-November and then announced the takeover is the outlook now
Obviously positive.
The result: Bank of America now falls not to "Baa3". But the very good "Aa1" will not keep.
I expect the rating by one or two levels will fall, a double-A rating maintained
. For bonds with a short period of two to three years, this means a yield to maturity level
From current 5% to 6% per annum This will be the Countrywide Financial bonds now align.
Highly Recommended

[Eus]

Attenzione. Potrebbero allungare la data del rimborso L'allarme mutui in USA è serio!