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BANKAMERICA 'AA-' SENIOR DEBT AFFIRMED BY FITCH AFTER MERGER -- FITCH FINANCIAL WIRE --

 BANKAMERICA 'AA-' SENIOR DEBT AFFIRMED BY FITCH AFTER MERGER
 -- FITCH FINANCIAL WIRE --
 NEW YORK, April 22 /PRNewswire/ -- BankAmerica Corp.'s 'AA-' senior debt is affirmed by Fitch following the company's merger with Security Pacific Corp. BankAmerica's subordinated debt and preferred stock ratings are also affirmed at 'A+' and 'A,' respectively, as is the company's 'F-1+' commercial paper rating. The credit trend is stable.
 The letter of credit rating of the former Security Pacific National is removed from FitchAlert positive, where it was placed on Aug. 19, 1991, at the time the merger was announced. Security Pacific National Bank has now been merged into, and its LOCs assumed by, Bank of America NT&SA, whose LOCs are rated 'AA-/F-1+.' Security Pacific's LOCs had been rated 'A/F-1.'
 BankAmerica's capital ratios have shown significant improvement during the past 15 months from levels which were already above peers. The newly formed corporation enjoys substantial liquidity at the parent company as well as at all operating levels. Completion of 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 newly formed institution are quite comfortable. The attractive earnings power of the combined companies 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.
 -0- 4/22/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/ CO: BankAmerica Corp.; Security Pacific Corp. ST: California IN: FIN SU: RTG


CK -- NY055 -- 1291 04/22/92 12:48 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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