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PRIMERICA, COMMERCIAL CREDIT PREFERRED, SENIOR DEBT, COMMERCIAL PAPER AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --

PRIMERICA, COMMERCIAL CREDIT PREFERRED, SENIOR DEBT, COMMERCIAL PAPER
 AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 28 /PRNewswire/ -- Primerica Corp.'s 'A' preferred stock and Primerica Holdings, Inc.'s 'A+' senior debt and 'F-1' commercial paper are affirmed by Fitch following the announcement that Primerica Holdings will be consolidated into Primerica Corp. The 'A+' senior debt and 'F-1' commercial paper of Primerica Corp. subsidiary Commercial Credit Co. are also affirmed. Primerica's credit trend is improving and Commercial Credit's is stable.
 This consolidation rationalizes the corporate structure and improves overall financial flexibility. The dual intermediate holding company structure had been in place to segregate the highest quality company, Commercial Credit, from the corporate debt assumed in connection with the 1988 acquisition of old Primerica Corp. The company's ability to unwind that structure now recognizes the significant steps taken by management to sell nonstrategic assets, reduce debt, and improve capitalization.
 Double leverage remains moderate after this restructuring, including the impact of the announced investment in Travelers Corp., and there is strong capacity from all the major subsidiaries to upstream dividends to the holding company.
 -0- 10/28/92
 /CONTACT: Nancy E. Stroker, CFA, 212-908-0533 or Lygia X. Campbell, 212-908-0695, both of Fitch/
 (PA) CO: Primerica Corp. ST: New York IN: FIN SU: RTG


SH -- NY105 -- 6147 10/28/92 15:18 EST
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Publication:PR Newswire
Date:Oct 28, 1992
Words:221
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