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CHASE MANHATTAN $200 MILLION 6.5 PERCENT SUBORDINATED NOTES RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE

 NEW YORK, July 21 /PRNewswire/ -- Chase Manhattan Corp.'s newly issued $200 million 6.5 percent noncallable subordinated notes due Aug. 1, 2005 are rated 'BBB+' by Fitch. The credit trend is improving.
 Chase's ratings were upgraded in June, reflecting the corporation's sale of approximately $740 million of new common equity and its previously announced decision to segregate approximately $2 billion in book value of commercial real estate. This represented a significant change in Chase's workout philosophy for its troubled real estate portfolio. The move is a right step for the corporation and melds well with its strategic focus.
 In addition to these actions, and equally important, is Chase's underlying trend of gradually improving core franchise earnings established over the past 10 quarters.
 -0- 7/21/93
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (CMB)


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

PS -- NY039 -- 3882 07/21/93 10:58 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
Words:155
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