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BANKAMERICA $500 MILLION 7.75 PERCENT SUBORDINATED NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 BANKAMERICA $500 MILLION 7.75 PERCENT SUBORDINATED NOTES
 RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, June 29 /PRNewswire/ -- BankAmerica Corp.'s newly issued $500 million of 7.75 percent subordinated notes due July 15, 2002, is rated 'A+' by Fitch. The credit trend is stable.
 This is the first of two new capital offerings expected for BankAmerica during the next two weeks. The second will be an issue of preferred stock which should raise between $300-350 million of new equity.
 BankAmerica's capital ratios have shown significant improvement during the past 15 months from levels which were already above peers. Combined with the former Security Pacific Corp., the newly formed corporation enjoys substantial liquidity at the parent company as well as all operating levels. The acquisition of Security Pacific creates a formidable western regional franchise with important penetration of the stable core retail deposit base.
 Asset quality measurements and accompanying reserve levels for the new consolidated institution are quite comfortable. Expected creation of a "work-out" bank for selected problem assets will further strengthen asset quality measurements. The attractive earnings power of BankAmerica is enhanced by the prospects for significant expense reduction in overhead costs. This will provide the corporation's team of highly qualified senior managers with the tools to maintain a strong balance sheet and important financial flexibility.
 -0- 6/29/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (BAC) CO: BankAmerica Corp. ST: California IN: FIN SU: RTG


LR -- NY045 -- 4704 06/29/92 12:10 EDT
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Publication:PR Newswire
Date:Jun 29, 1992
Words:249
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