Fitch Ratings Affirms 6 Classes from First Union National Bank of North Carolina.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 11, 2003 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. 6 classes of First Union National Bank of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Series 1996-1: -- Class A-3 affirmed at 'AAA'; -- Class B-1 affirmed at 'AAA'; -- Class B-2 affirmed at 'AAA'; -- Class B-3 affirmed at 'AA+'; -- Class B-4 affirmed at 'A+'; -- Class B-5 affirmed at 'BBB+'. These affirmations on the above classes reflect credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing consistent with future loss expectations. Further information regarding current delinquency, loss and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'. |
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