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UNITED COMPANIES FINANCIAL CORPORATION REVOLVING CREDIT AGREEMENT RATING REAFFIRMED AT 'BBB' BY DUFF & PHELPS

 CHICAGO, Sept. 3 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed the 'BBB' (Triple-B) rating of the Revolving Credit Agreement for United Companies Financial Corporation (UCFC). The rating reflects the company's improved capital position.
 UCFC is a holding company for insurance and mortgage lending and servicing companies with assets of $1.7 billion and stockholders' equity of $103 million as of June 30, 1993. In the first half of 1993, UCFC completed a $20 million private preferred stock offering with proceeds used to restore capital following the $17.6 million write-off of a mortgage servicing subsidiary. UCFC's fixed obligation ratio was 64 percent as of June 30, 1993.
 UCFC is the parent company for United Companies Life Insurance Company which carries an A (Single-A) claims-paying ability rating from Duff & Phelps Credit Rating Company.
 -0- 9/3/93
 /CONTACT: Sandra A. Seidl, A.S.A. of Duff & Phelps Credit Rating Co., 312-368-3116/
 (UCFC)


CO: United Companies Financial Corporation ST: Illinois IN: FIN SU: RTG

PS -- NY018 -- 8781 09/03/93 11:01 EDT
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Publication:PR Newswire
Date:Sep 3, 1993
Words:172
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