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THOMSON BANKWATCH UPGRADES RATINGS FOR NORWEST CORP., ASSIGNS INITIAL RATING TO NORWEST FINANCIAL

 MINNEAPOLIS, Nov. 3 /PRNewswire/ -- Thomson BankWatch upgraded Norwest Corporation's (NYSE: NOB) senior debt rating from AA to AA+, subordinated debt rating from AA- to AA and preferred stock rating from A+ to AA-. In its initial rating of Norwest Financial, Thomson BankWatch has assigned a senior debt rating of AA+, a senior subordinated debt rating of AA, a short-term rating of TBW-1 and also assigned Norwest Financial Thomson's highest issuer rating, which is A.
 In announcing the rating upgrade for Norwest Corporation and the initial rating of Norwest Financial, Thomson cited Norwest Corporation's "...income stream diversified to a degree rarely found among superregional banks" and Norwest Financial's performance as "one of the most consistent U.S. finance companies as measured by profitability, growth, asset quality and capital."
 Norwest Corporation is a $50.4 billion company providing banking, insurance, investments and other financial services through 2,279 offices in all 50 states, all 10 Canadian provinces and internationally.
 Norwest Financial has 925 consumer finance offices throughout the United States and in all 10 Canadian provinces.
 -0- 11/3/93
 /CONTACT: Patrice Vick of Norwest, 612-667-0148/
 (NOB)


CO: Norwest Corporation ST: Minnesota IN: FIN SU: RTG

AL-DB -- MN029 -- 0360 11/03/93 17:34 EST
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Publication:PR Newswire
Date:Nov 3, 1993
Words:203
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