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Fitch Corrects Ratings On 2 Commerzbank Supported Issues.

Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 2, 2000

CORRECTION: Following its downgrade of Commerzbank's long-term and short-term ratings, Fitch incorrectly reported ratings yesterday on two issues supported by Commerzbank liquidity facilities. The affected issues and correct ratings are:

-- California, State of (CA) commercial paper notes (liquidity

facility: Bayerische Landesbank Girozentrale, Commerzbank

Aktiengesellschaft, Credit Agricole, Dexia Credit Local de

France, Landesbank Hessen-Thuringen Girozentrale, Morgan

Guaranty Trust Co. of New York, State Street Bank & Trust Co.,

TD Securities (USA) Inc., Westdeutsche Landesbank

Girozentrale) 'F1+'.

-- Massachusetts, Commonwealth of (MA) general obligation

refunding variable-rate demand bonds ser 1998A (liquidity

facility: Commerzbank Aktiengesellschaft, NY)'AA-/F1'.

Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in New York and London with a major office in Chicago, Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance Markets worldwide.
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Publication:Business Wire
Date:Aug 2, 2000
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