S&P raises credit raitings for Citigroup ($C) & BofA ($BAC)

• S&P affirmed Citigroup’s rating to A from A-1 in counterparty credit rating and removed it from credit watch
• BofA is also affirmed to A+ from A-1 removing it from credit watch a well.

For both banks S&P said their capital boosting measures will provide them with a cushion even against higher, unexpected losses and both are likely to be able to count on government support (err…). 

Source: MarketWatch