MBNA AMERICA BANK $100 MILLION DEPOSIT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MBNA AMERICA BANK $100 MILLION DEPOSIT NOTES RATED 'A+' BY FITCH
-- FITCH FINANCIAL WIRE --
NEW YORK, Sept. 12 /PRNewswire/ -- MBNA America Bank's $100 million 6.25 percent deposit notes due 1994 are rated "A+" by Fitch. This is the first time Fitch has rated these securities. The bank's certificates of deposit were initially rated "A+/F-1" on Oct. 17.
MBNA's performance continues to be marked by strong profitability and capital ratios that place it among the healthiest domestic banking companies. While the bank lacks a branch network, core deposits are gathered through its solid relationship with the affinity group network. In addition to deposits, the bank manages its funding needs through securitization and the use of other sources.
The affinity group network is the underlying strength to the bank's credit card originations strategy. Because of its customer niche, asset quality remains good, evidenced by below industry losses on credit cards.
/CONTACT: Fay Y. Wong, 212-908-0531, or Alison Emmerich, 212-908-0523, both of Fitch/ CO: MBNA America Bank ST: IN: FIN SU: RTG SH -- NY057 -- 1992 12/12/91 13:22 EST