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GREYHOUND FINANCIAL $100 MILLION 8.5 PERCENT SENIOR NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 GREYHOUND FINANCIAL $100 MILLION 8.5 PERCENT SENIOR NOTES
 RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, April 24 /PRNewswire/ -- Greyhound Financial Corp.'s (GFC) $100 million 8.5 percent senior notes due May 1, 1998, are rated 'A' by Fitch. The credit trend is stable.
 The rating reflects GFC's strong asset quality as demonstrated by its resilience during the current recession. The maintenance of a diversified but well-focused portfolio and adherence to tight underwriting standards, as well as excellent account monitoring processes, have insulated GFC from typical recession-related asset quality deterioration. Net charge-offs have remained well under control, staying in the 0.33 percent range for the past three years. Profitability remains consistent due to excellent expense control and moderate provisioning. The balance sheet is solid, benefiting from strong asset quality as well as management's conservative funding practices.
 GFC pursues a tightly focused commercial finance niche strategy which targets middle market customers whose financing needs of $2-$20 million are typically too small for other lenders. The five business lines include commercial real estate, communications, transportation, corporate finance and recreational receivables financing. Greyhound Financial, headquartered in Phoenix, Ariz., is owned by GFC Financial Corp.
 -0- 4/24/92
 /CONTACT: Valerie Gerard of Fitch, 212-908-0577/ CO: Greyhound Financial Corp. ST: Arizona IN: FIN SU: RTG


CK -- NY024 -- 2343 04/24/92 10:11 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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