REPUBLIC NEW YORK $100 MILLION 7.75 PERCENT PREFERRED STOCK RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
REPUBLIC NEW YORK $100 MILLION 7.75 PERCENT PREFERRED STOCK RATED 'A+'
BY FITCH -- FITCH FINANCIAL WIRE -- NEW YORK, Feb. 19 /PRNewswire/ -- Republic New York Corp.'s newly issued $100 million of 7.75 percent preferred stock is rated "A+" by Fitch. On a pro forma basis, this offering of preferred shares will boost Republic's already strong Tier I risk-adjusted capital ratio to an even higher 15.32 percent. While the amount of preferred stock included in total equity is now about 28 percent, the corporation has more than ample cash flow available from the operating subsidiaries to comfortably service the aggregate dividend requirements of the parent company. 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 the banking subsidiaries as well as the parent company is maintained at high levels. -0- 2/19/92 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/ (RNB) CO: Republic New York Corp. ST: New York IN: FIN SU: RTG SH -- NY036 -- 0409 02/19/92 11:26 EST
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|Date:||Feb 19, 1992|
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