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THOMSON BANKWATCH UPGRADES BARNETT CREDIT RATINGS

 THOMSON BANKWATCH UPGRADES BARNETT CREDIT RATINGS
 JACKSONVILLE, Fla., April 8 /PRNewswire/ -- Citing improving


earnings, asset quality and capital, Thomson Bankwatch has upgraded various ratings of Barnett Banks securities and obligations.
 Thomson raised the rating of Barnett Banks, Inc. (NYSE: BBI) to B/C from C. It also raised the rating on the short-term obligations of Barnett Banks, Inc. and two if its largest affiliates, Barnett Bank of South Florida, N.A. and Barnett Bank of Jacksonville, N.A., to "TBW-1," Thomson's highest rating, from "TBW-2."
 "Despite our concerns about the Florida real estate markets, we believe the improvements noted above and BBI's continued strong statewide market share support our upgrades," the credit rating organization said.
 Barnett on Tuesday (April 7) reported that first-quarter earnings more than doubled from a year ago to $43.6 million, or $.55 per share.
 "We are pleased that our efforts to improve financial performance, credit quality and capital strength are being recognized," said Charles E. Rice, Barnett chairman and chief executive officer.
 With $32.9 billion in assets and 592 offices in Florida and Georgia, Barnett is the leading financial institution in Florida and the 20th-largest in the United States. The company's stock (BBI) is listed on the New York Stock Exchange.
 -0- 4/8/92 R
 /CONTACT: Bob Stickler (media), 904-791-5437 (office) or 904-396-9284 (home); or Helen Rowan (analysts), 904-791-7627 (office) or 904-272-6915 (home), both of Barnett Banks, Inc. CO: Barnett Banks, Inc. ST: Florida IN: FIN SU:


JB-SS -- FL018 -- 6390 04/08/92 15:51 EDT
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Date:Apr 8, 1992
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