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BENEFICIAL CORP. $3 BILLION SHELF DEBT RATED 'A+/A' BY FITCH -- FITCH FINANCIAL WIRE --

 BENEFICIAL CORP. $3 BILLION SHELF DEBT RATED 'A+/A' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 7, /PRNewswire/ -- Beneficial Corp.'s $3 billion shelf registration is rated 'A+' for senior debt and 'A' for subordinated debt by Fitch. The credit trend is stable.
 The ratings reflect Beneficial's strong and highly focused business position in consumer finance. With over $10 billion in assets, Beneficial continues to grow and build market share in targeted product lines. Almost two-thirds of the receivable base is represented by real estate secured loans, which have strong credit characteristics. Despite current economic conditions, Beneficial's asset quality has held up well and is supported by strong reserve levels.
 Beneficial's profitability remains healthy, despite some still underperforming businesses and the narrower margins typical of real estate secured receivables. The company's return on assets was a solid 1.68 percent at March 31 and its business focus assures consistency in earnings going forward. The balance sheet is also strong as a result of management's conservative funding and capitalization policies. A 1991 equity offering improved leverage from 7.68 times at Dec. 31, 1990, to a more appropriate 6.26 times as of March 31, 1992.
 -0- 7/8/92
 /CONTACT: Valerie Gerard of Fitch, 212-908-0577/
 (BNL) CO: Beneficial Corp. ST: Delaware IN: FIN SU: RTG


SM -- NY068 -- 7584 07/08/92 16:54 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
Words:225
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