Printer Friendly

BANKAMERICA $400 MILLION 8.16 PERCENT PREFERRED STOCK RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

BANKAMERICA $400 MILLION 8.16 PERCENT PREFERRED STOCK RATED 'A' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 6 /PRNewswire/ -- BankAmerica Corp.'s newly issued $400 million of 8.16 percent cumulative preferred stock is rated "A" by Fitch. The credit trend is stable.
 BankAmerica's capital ratios have shown significant improvement during the past 18 months from levels which were already above peers. Combined with the former Security Pacific Corp., the newly formed corporation enjoys substantial liquidity at the parent company as well as all operating levels. The acquisition of Security Pacific creates a formidable western regional franchise with important penetration of the stable core retail deposit base.
 Asset quality measurements and accompanying reserve levels for the new consolidated institution are quite comfortable. Expected creation of a "work-out" bank for selected problem assets will further strengthen asset quality measurements. The attractive earnings power of BankAmerica is enhanced by the prospects for significant expense reduction in overhead costs. This will provide the corporation's team of highly qualified senior managers with the tools to maintain a strong balance sheet and important financial flexibility.
 -0- 7/6/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (BAC) CO: BankAmerica Corp. ST: California IN: FIN SU: RTG


GK -- NY044 -- 6675 07/06/92 14:12 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 6, 1992
Words:211
Previous Article:WOLOHAN LUMBER CO. REPORTS JUNE SALES UP 13.8 PERCENT
Next Article:STANDARD MOTOR PRODUCTS DECLARES DIVIDEND
Topics:


Related Articles
BANKAMERICA $300 MILLION 8.125 PERCENT SUBORDINATED DEBENTURES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
BANKAMERICA $150 MILLION 7.25 PERCENT SENIOR NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
/C O R R E C T I O N -- FITCH/
BANKAMERICA $250 MILLION 8.375 PERCENT SUBORDINATED NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
BANKAMERICA $500 MILLION 7.75 PERCENT SUBORDINATED NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
BANKAMERICA'S $350 MILLION 6 PERCENT SENIOR NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
BANKAMERICA $3 BILLION DEBT, PREFERRED SHELF RATED BY FITCH -- FITCH FINANCIAL WIRE --
BANKAMERICA $350 MILLION 7.875 PERCENT PREFERRED STOCK RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
BANKAMERICA $250 MILLION 7.2 PERCENT SUBUBORDINATED NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
BANKAMERICA $300 MILLION 7.5 PERCENT SUBORDINATED NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters