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REPUBLIC NATIONAL BANK NZ$100 MILLION BANK NOTES RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --

REPUBLIC NATIONAL BANK NZ$100 MILLION BANK NOTES RATED 'AA+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 29 /PRNewswire/ -- Republic National Bank of New York's newly issued NZ$100 million (New Zealand $) bank notes due Aug. 4, 1995, are rated 'AA+' by Fitch. The credit trend is stable. The bank is the principal subsidiary of Republic New York Corp.
 The offering coupon on these notes is 17.80 percent less twice the Canadian bankers acceptance rate. This index translates into an initial interest rate of 7.10 percent. Noteholders have the option to lock in the interest rate until maturity at any repricing date.
 Republic's asset quality measurements, strong reserve coverage of troubled credits, and high risk-adjusted capital ratios remain well above peers. Disciplined asset/liability management has resulted in carefully crafted maturity and interest rate matching which enhances balance sheet strength. Liquidity for both the bank as well as the parent company is maintained at very ample levels.
 -0- 7/29/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (RNB) CO: Republic National Bank of New York; Republic New York Corp. ST: New York IN: FIN SU: RTG


CK -- NY052 -- 4567 07/29/92 11:19 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
Words:199
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