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SMITH BARNEY SHEARSON HOLDINGS $298.5 MILLION NOTES 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 10 /PRNewswire/ -- Smith Barney Shearson Holdings Inc.'s $150 million 5.375% notes due June 1, 1996 and $148.5 million 6.625% due June 1, 2000 are rated 'A+' by Fitch. These exchange notes were originally issued and sold on June 3, 1993 under Rule 144A of the Securities Act. The company is owned by Primerica Corp. and its primary operating subsidiary is Smith Barney Shearson Inc., a financial services company. The credit trend is improving.
 In July 1993, the company acquired the domestic retail brokerage and asset management businesses of Shearson Lehman Brothers Inc., changing its name to Smith Barney Shearson Inc. from Smith Barney, Harris Upham & Co., Inc. On a pro forma combined basis, the company had roughly $2 billion of equity compared to $983.6 million for Smith Barney as of June 30, 1993. Leverage remains low, with assets less resales to equity at 7.34 times. For 1993's six months ended June 30, Smith Barney Shearson Holdings Inc.'s net income on a pro-forma basis was roughly $215.1 million. For the third quarter, Smith Barney Shearson earned $118.8 million, which includes two-month earnings from the former Shearson.
 Smith Barney Shearson's strong retail brokerage operation is complemented with profitable and highly focused institutional activities. Risk taking principal activities remain limited.
 -0- 12/10/93
 /CONTACT: Nancy E. Stroker, 212-908-0533, or Teri L. Seelig, 212-908-0638/
 (PA)


CO: Smith Barney Shearson Holdings Inc. ST: IN: FIN SU: RTG

GK -- NY025 -- 2553 12/10/93 10:43 EST
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Publication:PR Newswire
Date:Dec 10, 1993
Words:254
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