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GREYHOUND FINANCIAL $125 MILLION 8.25 PERCENT SENIOR NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 GREYHOUND FINANCIAL $125 MILLION 8.25 PERCENT SENIOR NOTES
 RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, March 4 /PRNewswire/ -- Greyhound Financial Corp.'s (GFC) $125 million 8.25% senior notes due March 11, 1997, are rated 'A' by Fitch. The credit trend is stable.
 The rating reflects GFC's strong asset quality as demonstrated by its resilience during the current recession. The maintenance of a diversified but well focused portfolio and adherence to tight underwriting standards, as well as excellent account monitoring processes, have insulated GFC from typical recession-related asset quality deterioration. Net chargeoffs have remained well under control, staying in the 0.33 percent range for the past three years. Profitability remains consistent due to excellent expense control and moderate provisioning. The balance sheet is solid, benefiting from strong asset quality as well as management's conservative funding practices.
 On March 3, the shareholders of the Dial Corp, GFC's parent, approved a spin-off of Dial's commercial finance subsidiaries and its mortgage insurance business to its shareholders. The tax-free transaction is expected to be completed by March 18. GFC Financial Corp. with $2.5 billion in assets, will be the parent company for Dial's three financial services companies: Greyhound Financial, Greyhound European Financial Group, and Verex Corp., a mortgage insurer. Under the new corporate structure, Greyhound Financial will assume the European operations, represent 87 percent of total GFC Financial assets and continue to be the issuing entity for the new organization.
 Greyhound Financial pursues a tightly focused commercial finance niche strategy which targets middle market customers whose financing needs of $2-20 million are typically too small for other lenders. The five business lines include commercial real estate, communications, transportation, corporate finance and recreational receivables financing. Greyhound Financial is headquartered in Phoenix, Ariz.
 -0- 3/4/92
 /CONTACT: Valerie Gerard of Fitch, 212-908-0577/
 (DL) CO: Greyhound Financial Corp. ST: Arizona IN: FIN SU: RTG


KD -- NY088 -- 5137 03/04/92 16:50 EST
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Publication:PR Newswire
Date:Mar 4, 1992
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