The credit rating of Bank of America Corp., which has absorbed troubled mortgage lender Countrywide Financial Corp., has been downgraded to A+ from AA by Fitch Ratings because of concerns about increased losses from both credit card and home equity lending.

The ratings firm also upgraded Countrywide’s debt to A+ based on the now stronger backing from its new parent.

Also, Calabasas-based Countrywide agreed to settle claims that it abused the bankruptcy system by losing or destroying checks from homeowners who were in bankruptcy court. The company was accused of filing creditor claims with the bankruptcy court that were inflated with fraudulent late fees and legal costs.

Countrywide agreed to pay $325,000 to Ronda Winnecour, the Chapter 13 trustee for western Pennsylvania, to cover her office’s legal costs, and agreed to reconcile the accounts of debtors whose cases are being handled by her office.

Countrywide still faces similar suits from trustees in several states including Georgia and Florida.

“The purpose of Ms. Winnecour’s actions in the 293 cases was to get Countrywide’s attention, and I think Countrywide will admit that that has been done,” said David Ross, a lawyer representing Winnecour, according to New York Times coverage of the hearing.