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FLEET FINANCIAL $150 MILLION 7-5/8 PERCENT SUBORDINATED NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 30 ~PRNewswire~ -- Fleet Financial Group, Inc.'s new $150 million 7-5~8 percent subordinated notes due Dec. 1, 1999, are rated 'A-' by Fitch. The credit trend is improving.
 Fleet's core earnings capacity and profitability are built on a good regional market position and are being enhanced by the acquisition of the former Bank of New England franchise. The liquidity generated from the acquired deposits has reduced Fleet's dependence on large money market liabilities.
 The consolidated organization is well capitalized on a risk-adjusted basis. Fleet's Tier I ratio increased substantially to 10.22 percent from 7.58 percent during the eighteen months ended June 30, 1992. The leverage ratio was also strengthened, amounting to 6.38 percent at the end of 1992's first six months.
 -0- 11~30~92
 ~CONTACT: Fred W. DeBussey of Fitch, 212-908-0521~
 (FLT)


CO: Fleet Financial Group ST: IN: FIN SU: RTG

SH -- NY059 -- 2032 11~30~92 15:33 EST
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Publication:PR Newswire
Date:Nov 30, 1992
Words:158
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