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Article: NationsBank Affirmed, Barnett Banks on S&PWatch Re: Merger
- Article from:
- PR Newswire
- Article date:
- August 29, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Aug. 29 /PRNewswire/ -- Standard & Poor's today affirmed its ratings on NationsBank Corp. and its subsidiary banks. About $27 billion of outstanding long-term debt is affected.
At the same time, Standard & Poor's has placed Barnett Banks Inc. and related entities on CreditWatch with positive implications. About $2 billion of outstanding long-term debt is affected. (See ratings list below).
The rating actions follow the announcement by NationsBank that it has agreed to merge with Barnett. The combination with Barnett, already the leading bank in Florida with $33 billion of deposits, will give NationsBank the dominate market share in ...