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CHEMICAL BANKING $100 MILLION FLOATING RATE NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 4 /PRNewswire/ Chemical Banking Corp.'s newly issued $100 million floating rate notes due March 11, 1996, are rated "A" by Fitch. The credit trend is stable.
 Interest on these notes floats with quarterly payments of 50 basis points above the London interbank offered rate. There is a lifetime interest cap of 7 percent.
 The rating reflects strengthened core earnings enhanced by meaningful reductions in overhead costs, substantial liquidity at both the parent and banking subsidiaries, modest parent company double leverage, and improving asset quality measurements.
 -0- 3/4/93
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (CHL)


CO: Chemical Banking Corp. ST: New York IN: FIN SU: RTG

TS -- NY042 -- 2906 03/04/93 10:46 EST
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Publication:PR Newswire
Date:Mar 4, 1993
Words:121
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