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CHEMICAL BANKING $100 MILLION NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 CHEMICAL BANKING $100 MILLION NOTES RATED 'A' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, June 1 /PRNewswire/ -- Chemical Banking Corp.'s $100 million of floating rate notes, due June 8, 1995, are rated 'A' by Fitch. The credit trend is stable.
 These notes will reprice quarterly at a rate 35 basis points above the interest rate for thee month London interbank offered rate. Interest will be paid quarterly.
 The rating reflects strengthened core earnings enhanced by meaningful reductions in overhead costs, substantial liquidity at both the parent and banking subsidiaries, modest parent company double leverage, and improving asset quality measurements and higher reserve coverage of problem loans.
 -0- 6/1/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (CHL) CO: Chemical Banking Corp. ST: New York IN: FIN SU: RTG


CK -- NY085 -- 5899 06/01/92 16:49 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
Words:139
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