Article: Signet Banking Corp. senior debt lowered to 'A-' by Fitch Investors Service.

SIGNET BANKING CORP. SENIOR DEBT LOWERED TO `A-' BY FITCH

NEW YORK, April 26 /PRNewswire/ -- Signet Banking Corp.'s (NYSE: SBK) 7.75 percent senior debentures due 1997 are lowered to `A-' from `A' by Fitch Investors Service, reflecting greater risk associated with Signet's commercial real estate loan portfolio. Approximately $12 million in long-term debt outstanding is affected.

A continuing slowdown in the mid-Atlantic area's commercial real estate markets has hurt Signet's asset quality, particularly in commercial real estate construction loans. At March 31, 1990, these credits comprised 17 percent of Signet's $7.2 billion total loan portfolio and ...

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