Printer Friendly

HOUSEHOLD FINL CORP LTD $75 MIL 6 PERCENT SR NOTES 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 16 /PRNewswire/ -- Household Financial Corp. Ltd.'s (HFCL) $75 million 6 percent notes due June 30, 1998 are rated `A' by Fitch. The rating is based on the unconditional guarantee of HFCL's ultimate parent, Household International, Inc. (NYSE: HI) ("HI"), and the importance of the Canadian operations, conducted through HFCL, to the overall organization. The credit trend is stable.
 HFCL, with over C$3 billion of assets, is directly owned by Household Global Funding, Inc., an HI subsidiary. With weakness in the Canadian economy, HFCL experienced losses of about C$25 million in each of the last two years. However, through capital contributions, the balance sheet has maintained adequate capital levels, with equity/assets of 8.1 percent at Dec. 31, 1992.
 However, the greater strength is the HI guarantee. A diversified financial services company, HI has over $30 billion of assets and $1.6 billion of common equity. Despite the weakness of its non-U.S. operations, HI's core profitability is building, and its balance sheet has been strengthened through common stock offerings and retained earnings. At March 31, 1993, HI had a consolidated debt/equity ratio of 10.5 times (x), down from 12.4x the year before.
 /CONTACT: Nancy E. Stroker, CFA, of Fitch, 212-908-0533/
 (HI)


CO: Household Financial Corp. Ltd. ST: IN: FIN SU: RTG

MP -- NY027 -- 2549 06/16/93 10:50 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 16, 1993
Words:230
Previous Article:ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES PROPOSED $5,510,000 EQUITY FINANCING
Next Article:FIRST WELL OF 1993 INDONESIAN DRILLING PROGRAM COMPLETED; MORE WILDCAT DRILLING TO COMMENCE SOON
Topics:


Related Articles
HOUSEHOLD FINANCE CORP. $200 MILLION SENIOR NOTES RATED
HOUSEHOLD FINANCE CORP. $150 MILLION SENIOR NOTES RATED
HOUSEHOLD FINANCE $150 MILLION NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
HOUSEHOLD FINANCE $150 MILLION 7.75 PERCENT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
ASSOCIATES CORP. $300 MIL. 5 7/8 PERCENT NOTES RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
GMAC $500 MILLION 7 PERCENT NOTES DUE 2002 RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
HOUSEHOLD FINANCE $1.5 BILLION SHELF DEBT RATED 'A+/A' BY FITCH -- FITCH FINANCIAL WIRE --
ASSOCIATES CORP. $300 MILLION 6.75 PERCENT NOTES RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST I, 1993-1 'AAA/AA-' BY FITCH -- FITCH FINANCIAL WIRE --
ITT FINANCIAL'S $225 MILLION FLOATING RATE NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

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