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CONTINENTAL BANK $150 MIL FLT RATE NOTES RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE (FFW)--

 NEW YORK, May 12 /PRNewswire/ -- Continental Bank Corp.'s (NYSE: CBK) newly issued $150 million of floating rate notes due May 18, 2000, are rated `BBB+' by Fitch. The credit trend is stable.
 Continental's operating strategy has boosted capital ratios and improved return on equity and assets. While the nonperforming asset ratio remains stubbornly near 7 percent, the loan portfolio is declining, exacerbating efforts to lower the ratio. Reserve coverage of cash basis loans, equaling about 80 percent of nonperforming assets, is adequate at 57 percent.
 The corporation has materially reduced its published balance sheet over the past several years, as a result of a directed emphasis on wholesale, upper-middle market client relationships. The bank has adopted a merchant banking litany of services that generate both credit- related revenues from spread lending and corporate financing fees as well as non-interest services fees.
 Liquidity at the parent company and its principal banking subsidiary is sound. A growing amount of funds with a longer tenor has added to the stable funds category that support earning assets.
 -0- 5/12/93
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (CBK)


CO: Continental Bank Corp. ST: Illinois IN: FIN SU: RTG

TM -- NY107 -- 7791 05/12/93 17:28 EDT
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Publication:PR Newswire
Date:May 12, 1993
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