Printer Friendly

FLEET/NORSTAR $892 MILLION SHELF RATED 'A/A-' BY FITCH -- FITCH FINANCIAL WIRE --

 FLEET/NORSTAR $892 MILLION SHELF RATED 'A/A-' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Feb. 12 /PRNewswire/ -- Fleet/Norstar Financial Group, Inc.'s senior and subordinated notes available for sale under the corporation's $892 million shelf registration are rated "A" and "A-," respectively.
 Fleet/Norstar's acquisition of selected assets and liabilities of the former Bank of New England has aided the corporation's efforts to strengthen its balance sheet ratios. Deposits so acquired dropped the consolidated loan to deposit ratio from 90 percent to about 75 percent between Sept. 30, 1990, and Dec. 31, 1991, respectively. Also, dependence on large money market liabilities has been reduced substantially. In addition, sizable amounts of lower risk weighted portfolio securities have enabled the corporation to bolster its Tier I risk adjusted capital ratio. At year-end 1991, Fleet/Norstar's Tier I ratio was 9.80 percent, compared to 7.58 percent a year earlier.
 The corporation will ask shareholders to vote on a name change at the April 15 annual meeting. The proposed new name is Fleet Financial Group.
 -0- 2/12/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (FNG) CO: Fleet/Norstar Financial Group, Inc. ST: Rhode Island, New York IN: FIN SU: RTG


GK -- NY077 -- 9303 02/12/92 14:00 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:Feb 12, 1992
Words:211
Previous Article:TEXAS HILL COUNTRY WINE & FOOD FESTIVAL SCHEDULED FOR APRIL 2-5, 1992
Next Article:WATER SYSTEMS AGREE TO COMPLY WITH SAFE DRINKING WATER LAW
Topics:


Related Articles
FLEET/NORSTAR FINANCIAL GROUP SELLS $107 MILLION 8.625 PERCENT SUBORDINATED NOTES DUE 2007
GREYHOUND FINANCIAL $750 MILLION SENIOR DEBT SHELF RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET/NORSTAR FINANCIAL GROUP FILES SHELF REGISTRATION
GMAC $4.0 BILLION SENIOR DEBT SHELF REGISTRATION RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET/NORSTAR FINANCIAL GROUP TO CALL CONVERTIBLE DEBENTURES
GMAC $6.0 BILLION MEDIUM TERM NOTE SHELF RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET MORTGAGE SECURITIES $123.4 MILLION SERIES 1992-1 CERTIFICATES 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET/NORSTAR FINANCIAL GROUP SELLS $100 MILLION 7.65 PERCENT NOTES DUE 1997
FLEET $750 MILLION SHELF DEBT RATED 'A/A-' BY FITCH -- FITCH FINANCIAL WIRE --
COMMERCIAL CREDIT $807.8 MILLION SHELF DEBT RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

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