Printer Friendly

FLEET $200 MILLION 5-5/8 PERCENT NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 FLEET $200 MILLION 5-5/8 PERCENT NOTES RATED 'A' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 2 /PRNewswire/ -- Fleet Financial Group, Inc.'s newly issued $200 million of 5-5/8 percent notes due July 1, 1995, are rated 'A-' by Fitch. The credit trend is stable.
 Fleet's earnings capacity in 1992 is being positively impacted by the acquired operations of the former Bank of New England franchise. Liquidity generated from the acquired deposits has smartly reduced Fleet's dependence on large money market liabilities. The corporation has also substantially increased its Tier I risk adjusted capital ratios from 7.58 percent to 9.97 percent during the fifteen months ended March 31, 1992. The latter ratio is well in excess of regulatory minimums and meaningfully above both rating category and asset-size peers. The important leverage ratio has also been strengthened, amounting to 6.32 percent at the end of this year's first quarter.
 Loan leverage, measured against deposits as well as total assets, remains modest. Thus, Fleet receives the benefits of higher risk- adjusted capital ratios and also the flexibility to make new, quality loans when the economic environment generates new demand.
 -0- 7/2/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/ CO: Fleet Financial Group, Inc. ST: IN: FIN SU: RTG


AH -- NY027 -- 6113 07/02/92 11:05 EDT
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:Jul 2, 1992
Words:222
Previous Article:QUARTERLY CASH DIVIDEND DECLARED BY GRACE
Next Article:OFFSHORE PIPELINES COMPLETES OFFERING OF SENIOR NOTES AND PREFERRED STOCK
Topics:


Related Articles
FLEET/NORSTAR $150 MILLION 9 PERCENT SUBORDINATED NOTES RATED 'A-' BY Fitch -- FITCH FINANCIAL WIRE --
BANKAMERICA $150 MILLION 7.25 PERCENT SENIOR NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
CHEMICAL BANKING $200 MILLION 8.5 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE
BANKAMERICA $250 MILLION 8.375 PERCENT SUBORDINATED NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
BANK OF NEW YORK $350 MIL. 7.625 PERCENT SUB NOTES RATED 'A-' BY FITCH --FITCH FINANCIAL WIRE (FFW)--
FLEET $250 MILLION 8-1/8 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
BANKERS TRUST $100 MILLION SUBORDINATED NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
CHEMICAL BANKING $200 MIL 7.92 PERCENT PFD. STOCK RATED 'BBB+' BY FITCH --FITCH FINANCIAL WIRE--
FLEET FINANCIAL $150 MILLION 7-5/8 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET FINANCIAL $200 MILLION 7.25% SENIOR NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

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