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

CHEMICAL BANKING $100 MILLION SUBORDINATED NOTES RATED 'A-' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, June 16 /PRNewswire/ -- Chemical Banking Corp.'s $100 million of 8-1/8 percent subordinated notes due June 15, 2002, are rated 'A-' by Fitch. The credit trend is stable.
 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 and higher reserve coverage of problem loans.
 -0- 6/16/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (CHL) CO: Chemical Banking Corp. ST: New York IN: FIN SU: RTG


SH -- NY071 -- 0759 06/16/92 14:51 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
Words:115
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