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CITICORP $250 MILLION 7.125 PERCENT SUB NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 26 /PRNewswire/ -- Citicorp's newly issued $250 million of 7.125 percent subordinated notes, due June 1, 2003, is rated 'A-'. The credit trend is uncertain.
 Citicorp continues its focus on enhancing core earnings, building capital and improving its asset quality as well as reserve coverage of nonperforming loans. The corporation's 1992 year end Tier I risk adjusted capital ratio was 4.90 percent, very near, and more importantly, almost a year ahead of the 5 percent level predicted in our May 1992 Citicorp report. Helping to achieve this goal was a $1.1 billion issue of preferred equity redemption cumulative stock (PERCS) in October. Further, by year end 1993, the expectation now is that the Tier I ratio could be in a range of 6.0 - 6.25 percent as earnings, asset sales and balance sheet realignment all combined to positively influence the ratio.
 Citicorp's earnings leverage has been materially enhanced by the growth in its operating margin during the past twenty four months. Continuance of this higher margin, coupled with expected lower credit costs resulting from better asset quality, will drive meaningful improvement in the corporation's profitability and earnings in 1993 and beyond.
 -0- 02/26/93
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (CCI)


CO: Citicorp ST: New York IN: FIN SU: RTG

AH -- NY052 -- 0956 02/26/93 15:55 EST
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Publication:PR Newswire
Date:Feb 26, 1993
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