MOODY'S RAISES RATINGS ON WASHINGTON MUTUAL
MOODY'S RAISES RATINGS ON WASHINGTON MUTUAL SEATTLE, March 5 /PRNewswire/ -- Moody's Investors Service Inc.
has raised four of its ratings of Washington Mutual Savings Bank (NASDAQ: WAMU), the bank announced today.
Moody's upgraded the ratings on Washington Mutual's subordinated debt to Baa3 from Ba2 and preferred stock to Ba1 from Ba3. Also raised were ratings on the bank's long-term deposit obligations to Baa2 from Baa3 and short-term deposits to Prime-2 from Prime-3. "The upgrades are based on Washington Mutual's demonstrated good profitability, strong capital and reserves, and good asset quality," Moody's said. "The upgraded ratings from Moody's recognize the strengths of our focus on consumer banking in the Northwest, our independence and local management, and our very strong capital," said Kerry Killinger, Washington Mutual's chairman, president and chief executive officer. "We are also pleased by the upgrades because, in the current industry environment, few other financial institutions have had their ratings raised." With assets of $7.1 billion, Washington Mutual is the Northwest's premier consumer bank, operating 102 financial centers and 18 home loan centers in Washington, Oregon and Idaho. -0- 3/5/92 /CONTACT: Scott F. Selby of Washington Mutual, 206-461-3186/ (WAMU) CO: Washington Mutual Savings Bank; Moody's Investors Service Inc. ST: Washington IN: FIN SU: RTG
SC -- SE008 -- 5645 03/05/92 17:20 EST
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|Date:||Mar 5, 1992|
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