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MBNA AMERICA BANK SENIOR MEDIUM-TERM BANK NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 8 /PRNewswire/ -- MBNA America Bank, NA's $75 million senior medium-term bank notes are rated `A+' by Fitch. The rating reflects the company's strong and unique market position in the credit card industry. Earnings are consistently strong, asset quality is good, and the company maintains a solid funding structure with a well capitalized balance sheet. The credit trend is stable.
 MBNA America Bank, 99 percent owned by MBNA Corp., is the third largest issuer of credit cards and the largest and most dominant force in credit card issuance through affinity groups. As a result, demographic characteristics are strong, translating into a high-quality, loyal customer base that generates consistently strong earnings. This also has protected the company fairly well from the increasing competitiveness in the credit card industry as MBNA's pool of managed receivables grew to $10.0 billion at March 31, 1993 from $5.7 billion at Dec. 31, 1989. For the three months ended March 31, 1993, MBNA Corp. had a typically high return on assets of 2.7 percent, with annualized chargeoffs of 2.8 percent staying well below industry averages.
 A strong capital base resulted from MBNA's spinoff from MNC Financial Corp. in January 1991, and a solid funding structure has established a sound balance sheet. At March 31, 1993, MBNA Corp.'s Tier I and total capital as a percentage of risk-weighted assets equaled 12.89 percent and 17.95 percent, respectively. This strong capitalization assures that MBNA could absorb any unexpected recourse related to off balance sheet assets. Despite the lack of a retail branch network, MBNA America Bank is still primarily retail funded, with a national CD program of $1.5 billion as an additional source of funds.
 -0- 6/8/93
 /CONTACT: Helene L. Moehlman, CFA, 212-908-0606 or Nancy E. Stroker, CFA, 212-908-0533, both of Fitch/


CO: MBNA America Bank, NA ST: IN: FIN SU: RTG

WB -- NY086 -- 6745 06/08/93 17:30 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
Words:324
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