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DUFF & PHELPS: MNC FINANCIAL, INC. CREDIT RATINGS PLACED ON RATING WATCH -- FAVORABLE

 CHICAGO, Feb. 18 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has placed the credit ratings of MNC Financial, Inc. on Rating Watch -- Favorable following the announcement that NationsBank Corporation is exercising its right to acquire MNC under terms of a purchase-option agreement announced in mid-1992.
 Ratings for MNC placed on Rating Watch--Favorable include: senior debt rating of "BB" (double-B); subordinated debt rating of "BB-" (double-B-minus); and preferred stock rating of "DP" (preferred stock with dividend arrearages). Also placed on Ratings Watch -- Favorable are the ratings of MNC's two principal banking subsidiaries. Maryland National Bank's short-term deposits are rated "Duff 3", while long-term deposits are rated "BB+" (double-B-plus). American Security Bank, N.A. ratings are "Duff 4"/"BB".
 MNC has approximately $16.7 billion in assets and operates nearly 250 banking centers in Maryland, Virginia, and the District of Columbia.
 -0- 2/18/93
 /CONTACT: Charles J. Orabutt, Jr., CPA of Duff & Phelps, 312-368-3153/
 (MNC)


CO: MNC Financial, Inc. ST: Maryland IN: FIN SU: RTG

TS -- NY082 -- 8063 02/18/93 16:10 EST
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Publication:PR Newswire
Date:Feb 18, 1993
Words:172
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