Printer Friendly

FLEET/NORSTAR $107 MILLION 8.625 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

 FLEET/NORSTAR $107 MILLION 8.625 PERCENT SUBORDINATED
 NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Jan. 17 /PRNewswire/ -- Fleet/Norstar Financial Group, Inc.'s $107 million offering of 8.625 percent subordinated notes, due Jan. 15, 2007, is rated 'A-' by Fitch.
 Fleet/Norstar's acquisition of selected assets and liabilities of the former Bank of New England aided the corporation's efforts to strengthen its balance sheet ratios. Acquired deposits dropped the consolidated loan to deposit ratio from 90 percent to about 75 percent between Sept. 30, 1990, and year-end 1991. Also, dependence on large money market liabilities was substantially reduced. In addition, sizable amounts of lower risk-weighted portfolio securities 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.
 -0- 1/17/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (FNG) CO: Fleet/Norstar Financial Group Inc. ST: IN: FIN SU: RTG


CK -- NY039 -- 1005 01/17/92 12:56 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:Jan 17, 1992
Words:176
Previous Article:SNO COUNTRY REPORTS OFFICIAL SKI REPORT FOR JAN. 17, 1992
Next Article:QUEBECOR IS CONSIDERING AN INITIAL PUBLIC OFFERING BY ITS SUBSIDIARY QUEBECOR PRINTING
Topics:


Related Articles
GREAT WESTERN FINANCIAL $100 MILLION 8.625 PERCENT SENIOR NOTES RATED
REPUBLIC NEW YORK $100 MILLION SUBORDINATED NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
FITCH WITHDRAWS RATINGS OF EIGHT BANK AND FINANCE COMPANIES -- FITCH FINANCIAL WIRE --
CITICORP $150 MILLION SUBORDINATED NOTES DUE 2002 RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
BANKERS TRUST $100 MILLION PREFERRED RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET/NORSTAR $100 MILLION 7.65 PERCENT SENIOR NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
CHEMICAL BANK $300 MILLION 7.25 PERCENT SUBORDINATED NOTES 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
CHEMICAL BANK'S $200 MILLION 7 PERCENT SUBORDINATED NOTES RATED "A-" BY FITCH -- FITCH FINANCIAL WIRE --
Household International Subsidiary Debt On FitchAlert Neg - Fitch Financial Wire -
Fitch Affirms Fleet 'A' Senior Debt On Advanta Credit Card Buy - Fitch Financial Wire -

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters