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ITT FINANCIAL $100 MILLION 7.25 PERCENT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 ITT FINANCIAL $100 MILLION 7.25 PERCENT NOTES RATED 'A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, May 11 /PRNewswire/ -- ITT Financial Corp.'s $100 million 7.25 percent notes due May 15, 1997, are rated "A+" by Fitch.
 ITT Financial has experienced weak earnings for the past two years due to high chargeoffs in the consumer sector. Now, Fitch believes the deterioration in performance has stopped. However, earnings and profitability will stay well below historical standards at least through 1993 due to the overhang of nonperforming commercial assets and the need to build reserves. Positive factors in the rating include a strong balance sheet and support from parent ITT Corp.
 -0- 5/11/92
 /CONTACT: Nancy E. Stroker of Fitch, 212-908-0533/
 (ITT) CO: ITT Financial Corp.; ITT Corp. ST: New York IN: FIN SU: RTG


GK -- NY053 -- 8581 05/11/92 11:21 EDT
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Publication:PR Newswire
Date:May 11, 1992
Words:145
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