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CHASE MANHATTAN $100 MILLION FLOATING RATE SUB NOTES 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 29 /PRNewswire/ -- Chase Manhattan Corp.'s newly issued $100 million floating rate subordinated notes due Aug. 1, 2003 are rated `BBB+' by Fitch. The issue pays interest quarterly at the three month London interbank offered rate and has a floor of 4-1/2 percent. The credit trend is improving.
 Chase's ratings were upgraded in June, reflecting recent actions taken by the corporation to improve performance. These actions include the sale of approximately $740 million of common equity and the segregation of approximately $2 billion in book value of commercial real estate loans and assets for accelerated disposition. Equally important, Chase's core earnings have improved gradually over the last 10 quarters.
 -0- 7/29/93
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (CMB)


CO: Chase Manhattan Corp. ST: New York IN: FIN SU: RTG

WB-MG -- NY123 -- 7459 07/29/93 17:28 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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