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ARISTAR $150 MILLION 5.75 PERCENT SENIOR NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 8 /PRNewswire/ -- Aristar, Inc.'s $150 million 5.75 percent senior notes due July 15, 1998 are rated 'A' by Fitch. The rating reflects Aristar's good earnings and asset quality, supported by conservative management and a strong balance sheet. The company also benefits from its ownership by the 'A' rated Great Western Financial Corp. The credit trend is stable.
 A relatively small finance company, Aristar's assets have been growing at a measured pace through acquisitions, but remain concentrated in the southern U.S. The business likewise is narrowly focused on secured consumer loans, which maintain a smooth and consistent track record. At Mar. 31, 1993, net chargeoffs were 2.45 percent, down from 2.80 percent at year end 1992.
 Aristar is very well capitalized with a debt/equity multiple of 3.18 times at the end of the 1993's first quarter. To bring leverage in line with its peers, Aristar is aiming to grow its asset base faster than its earnings. With sluggish conditions in the regional economy limiting internal growth, Aristar has made some local acquisitions to bolster the receivables base. Looking forward, the company's challenge in growing will be to find opportunities which complement its asset profile and which exhibit the same earnings characteristics as the existing book of business.
 On June 30, 1993, Great Western Financial completed a corporate realignment that resulted in a transfer of Aristar's ownership from Great Western Bank to the holding company.
 -0- 7/8/93
 /CONTACT: Valerie L. Gerard of Fitch, 212-908-0577/
 (GWF)


CO: Aristar, Inc. ST: IN: FIN SU: RTG

SM -- NY070 -- 9548 07/08/93 13:38 EDT
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Date:Jul 8, 1993
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