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BRIDGESTONE/FIRESTONE MASTER TRUST SERIES 1992-A 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 28 /PRNewswire/ -- Firestone Retail Credit Corporation's Bridgestone/Firestone Master Trust's (BFMT) $200 million 6.25 percent Class A asset-backed certificates, Series 1992-A are rated AAA' by Fitch. Firestone Retail Credit Corporation, (FRCC) a Massachusetts corporation, is a nominally capitalized special purpose corporation organized for the limited purpose of purchasing, owning and selling receivables.
 The AAA' rating is based upon the quality of the private label credit card receivables, the initial 16 percent credit enhancement provided by the subordination of the Class B certificates and the provisions for increasing the credit enhancement to 18 percent through, among other things, the subordination of principal collections allocable to FRCC and deposits into a reserve account.
 The credit card receivables are generated under a private label credit card program established by Society National Bank and sold to BFMT. The receivables, which initially totalled $424 million, consist of amounts charged by cardholders who are customers of Bridgestone/Firestone, Inc. (B/F) stores which sell tires, car maintenance and repair products and services plus dealers and marketers selling B/F tires and related products. There are over 1500 B/F operated tire and automotive service centers and B/F is a major supplier of tires to several thousand independent dealer outlets.
 The Class A certificates will have an interest-only period of 29 months followed by a 12 month controlled amortization period. Interest will be paid on the first business day each month. The first principal payment is scheduled for June, 1995. During the interest-only period, principal collections will be reinvested in new receivables transferred to the trust.
 Concurrent with the Class A issuance, Class B certificates are being issued. Class B initially will be retained by FRCC and is unrated. Class B is subordinate to Class A and provides 16 percent credit enhancement.
 FRCC also anticipates issuing up to $178 million face amount of remarketed accounts receivable certificates, Series 1992-B (REMARCS) from BFMT. The short term nature of the REMARCS will help FRCC manage any large fluctuations in the size of the receivables pool.
 Bridgestone/Firestone, Inc. is the servicer for all receivables in the trust. B/F has obtained a servicer letter of credit from The Sumitomo Bank, Limited in favor of the trustee to secure timely remittance of collections by B/F to the trustee.
 -0- 12/28/92
 /CONTACT: Gracen Fraser, 212-908-0520, or J. Douglas Murray, 212-908-0518, both of Fitch/


CO: Firestone Retail Credit Corporation ST: New York IN: FIN SU: RTG

SM -- NY032 -- 0123 12/28/92 15:26 EST
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Publication:PR Newswire
Date:Dec 28, 1992
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