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FLEET $750 MILLION SHELF DEBT RATED 'A/A-' BY FITCH -- FITCH FINANCIAL WIRE --

 FLEET $750 MILLION SHELF DEBT RATED 'A/A-' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 30 /PRNewswire/ -- Fleet Financial Group, Inc.'s new $750 million shelf registration is rated 'A' for senior debt and 'A-' for subordinated debt 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 10.50 percent during the 18 months ended June 30. The latter ratio is well in excess of regulatory minimums and meaningfully above both rating category and asset-size peers.
 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- 7/30/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (FLT) CO: Fleet Financial Group Inc. ST: Rhode Island IN: FIN SU: RTG


PS -- NY049 -- 5056 07/30/92 11:36 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
Words:202
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