Printer Friendly

CITICORP $150 MILLION 8.625 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 19 ~PRNewswire~ -- Citicorp's newly issued $150 million 8.625 percent subordinated notes, due Dec. 1, 2002, are rated 'A-' by Fitch. The credit trend is uncertain. These notes are Citicorp's second subordinated debt offering in 1992.
 Citicorp is intensifying its focus on achieving a 5 percent Tier I risk-adjusted capital ratio by year-end 1992. This would be a full year ahead of the pace expected in our May 1992 Citicorp report. Helping to achieve this goal was a $1.1 billion issue of preferred equity redemption cumulative stock (PERCS) in October. Pro forma for the PERCS offering, the Tier I ratio would have been approximately 4.75 percent at the end of 1992's third quarter. Further, by year-end 1993, the Tier I ratio could be in a range of 6 percent-6.25 percent as earnings, asset sales, and balance sheet realignment all combine to positively influence the ratio.
 -0- 11~19~92
 ~CONTACT: Fred W. DeBussey of Fitch, 212-908-0521~
 (CCI)


CO: Citicorp ST: New York IN: FIN SU: RTG

SH -- NY099 -- 3027 11~19~92 15:10 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 19, 1992
Words:181
Previous Article:SIVENSA ANNOUNCES FISCAL 1992 RESULTS
Next Article:LASER MEDICAL TECHNOLOGY RECEIVES ORDERS
Topics:


Related Articles
FLEET/NORSTAR $150 MILLION 9 PERCENT SUBORDINATED NOTES RATED 'A-' BY Fitch -- FITCH FINANCIAL WIRE --
CHEMICAL BANKING $200 MILLION 8.5 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE
REPUBLIC NEW YORK $150 MILLION 7.75 PERCENT SUBORDINATE NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
CHEMICAL BANKING $100 MILLION SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
CITICORP 'A' SENIOR DEBT AFFIRMED BY FITCH AFTER ANNOUNCEMENT -- FITCH FINANCIAL WIRE --
CHEMICAL BANKING $300 MILLION 7.25 PERCENT SUBORDINATED NOTES 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
BANKERS TRUST $150 MILLION SUBORDINATED NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
REPUBLIC NEW YORK'S $150 MILLION SUBORDINATED FLOATING RATE NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET FINANCIAL $150 MILLION 7-5/8 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
CITICORP $400 MILLION 8.00 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters