MOODY'S ASSIGNS FINANCIAL STRENGTH RATINGS TO 288 U.S. BANKS

New York, 7/27/1995 -- Moody's Investors Service assigned Bank Financial Strength Ratings (BFSRs) to 288 U.S. banks. To differentiate the new ratings from its traditional Aaa-through-C credit ratings, Moody's BFSRs use a different letter scale ranging from A ("exceptional") to E ("very weak" -- see full definitions below).
Moody's said that only three domestic banks received the highest rating of A: Morgan Guaranty Trust of New York; Trust Company Bank in Atlanta; and Wachovia Bank of North Carolina. BFSRs of U.S. banks range from a high of A to a low of D+: in addition to the three banks rated A, 17 were rated B+; 65 were rated B; 116 were rated C+; 78 were rated C; and 9 were rated D+. The average BFSR rating for the 288 banks is C+, while Moody's average deposit rating on the same banks is A1.
Moody's said that BFSRs are intended to provide investors with a measure of a bank's "intrinsic safety and soundness" on a strict legal-entity basis. Moody's emphasized that, unlike its traditional credit ratings, BFSRs are not intended to measure the true risk of credit loss -- i.e., the risk that a bank will miss payments on its deposits or other fixed-income obligations. Instead, BFSRs provide a useful comparative indicator of what an institution's creditworthiness would be on a stand-alone basis.
Moody's said that it has begun assigning BFSRs to answer the frequent requests of bank investors -- particularly interbank and counterparty credit departments -- for Moody's assessment of what a given bank's credit profile would be without reference to support mechanisms, ownership, or membership in a banking group. In many instances, banks with identical deposit ratings have different BFSRs. Moody's explained "that this can occur, for example, for multibank holding companies where similar or identical deposit ratings reflect a high likelihood of support from the parent and affiliated banks, whereas differing BFSRs more closely reflect each individual bank's financial fundamentals and underlying franchise, without regard to intercompany support mechanisms."
The rating agency noted that the attached listing of BFSRs is accompanied by traditional long- and short-term deposit ratings for each bank. The BFSRs should be viewed as a descriptive and component part of Moody's traditional deposit ratings. The analysis underlying BFSRs is conducted for all rated banks, and it is incorporated into the deposit ratings along with external considerations that can significantly affect a bank's ability to meet its obligations.
The U.S. bank rating assignments are part of a program to assign BFSRs to all the banks worldwide for which Moody's currently maintains bank deposit ratings. Like Moody's credit ratings, Bank Financial Strength Ratings will be globally comparable across countries and currencies, and they will be consistent in their meanings over time. Over the coming weeks, Moody's will assign BFSRs to the remainder of the more than 600 banks worldwide for which it currently has bank deposit ratings. The new ratings will be assigned on a country-by-country basis to banks in each of the 40 countries with rated institutions. BFSRs will be publicly available through Moody's information centers, publications, and press announcements. Rating changes will also be announced publicly.
Definitions: Moody's Bank Financial Strength Ratings
Moody's Bank Financial Strength Ratings represent Moody's opinion of a bank's intrinsic safety and soundness and, as such, exclude certain external credit risks and credit support elements that are addressed by Moody's traditional debt and deposit ratings. Unlike Moody's traditional debt ratings, Bank Financial Strength Ratings do not address the probability of timely payment. Instead, Bank Financial Strength Ratings can be understood as a measure of the likelihood that a bank will require assistance from third parties such as its owners, its industry group, or official institutions. Bank Financial Strength Ratings do not take into account the probability that the bank will receive such external support, nor do they address risks arising from sovereign actions that may interfere with a bank's ability to honor its domestic or foreign currency obligations.
Factors considered in the assignment of Bank Financial Strength Ratings include bank-specific elements such as financial fundamentals, franchise value, and business and asset diversification. Although Bank Financial Strength Ratings exclude the external factors specified above, they do take into account other risk factors in the bank's operating environment, including the strength and prospective performance of the economy, as well as the structure and relative fragility of the financial system, and the quality of banking regulation and supervision.
The definitions for Moody's Bank Financial Strength Ratings (which have been revised slightly since they were announced in November) are as follows:

A
Banks rated A possess exceptional intrinsic financial strength. Typically, they will be major institutions with highly valuable and defensible business franchises, strong financial fundamentals, and a very attractive and stable operating environment.

B
Banks rated B possess strong intrinsic financial strength. Typically, they will be important institutions with valuable and defensible business franchises, good financial fundamentals, and an attractive and stable operating environment.

C
Banks rated C possess good intrinsic financial strength. Typically, they will be institutions with valuable and defensible business franchises. These banks will demonstrate either acceptable financial fundamentals within a stable operating environment, or better than average financial fundamentals within an unstable operating environment.

D
Banks rated D possess adequate financial strength, but may be limited by one or more of the following factors: a vulnerable or developing business franchise; weak financial fundamentals; or an unstable operating environment.

E
Banks rated E possess very weak intrinsic financial strength, requiring periodic outside support or suggesting an eventual need for outside assistance. Such institutions may be limited by one or more of the following factors: a business franchise of questionable value; financial fundamentals that are seriously deficient in one or more respects; or a highly unstable operating environment.

Intermediate Categories
Where appropriate, a "+" may be appended to ratings below the "A" category to distinguish those banks that fall into intermediate categories.

The following Bank Financial Strength Ratings (BFSR) were assigned:

BANK -- LONG-TERM/SHORT-TERM DEPOSIT RATINGS, BFSR RATING

Advanta National Bank -- Baa2/P-3, D+
American National Bank and Trust Co. of Chicago -- A1/P-1, C+
AmSouth Bank of Alabama -- Aa3/P-1, B
Banco Popular de Puerto Rico -- A2/P-1, C+
Bank of America Arizona -- Aa3/P-1, C+
Bank of America Illinois -- A1/P-1, C
Bank of America National Trust and Savings Assoc. -- Aa3/P-1, B+
Bank of America Nevada -- Aa3/P-1, C+
Bank of America Oregon -- A1/P-1, C+
Bank of America Texas, N.A. -- A1/P-1, C
Bank of Boston Connecticut -- A2/P-1, C
Bank of California N.A. -- A2/P-1, C
Bank of Hawaii -- Aa3/P-1, B
Bank of New York -- A1/P-1, B
Bank of New York (Delaware) -- A1/P-1, C+
Bank of New York, N.A. (New Jersey) -- A1/P-1, C+
Bank of Tokyo Trust Company -- A1/P-1, D+
Bank One, Akron, N.A. -- Aa2/P-1, B
Bank One, Arizona, N.A. -- Aa2/P-1, B+
Bank One, Chicago, N.A. -- Aa2/P-1, B
Bank One, Cleveland, N.A. -- Aa2/P-1, B
Bank One, Columbus, N.A. -- Aa2/P-1, B+
Bank One, Dayton, N.A. -- Aa2/P-1, B
Bank One, Indianapolis, N.A. -- Aa2/P-1, B
Bank One, Lexington, N.A. -- Aa2/P-1, B
Bank One, Milwaukee, N.A. -- Aa2/P-1, B
Bank One, Texas, N.A. -- Aa2/P-1, B+
Bank One, Youngstown, N.A. -- Aa2/P-1, B
Bank South N.A. -- A3/P-2, C
Bankers Trust (Delaware) -- A1/P-1, C+
Bankers Trust Company -- A1/P-1, C+
Bankers Trust Company of California, N.A. -- A1/P-1, C+
Barnett Bank of Alachua County, N.A. -- A1/P-1, C
Barnett Bank of Broward County, N.A. -- A1/P-1, B
Barnett Bank of Central Florida N.A. -- A1/P-1, C+
Barnett Bank of Highlands County -- A1/P-1, C
Barnett Bank of Jacksonville, N.A. -- A1/P-1, C+
Barnett Bank of Lake County, N.A. -- A1/P-1, C
Barnett Bank of Lake Okeechobee -- A1/P-1, C
Barnett Bank of Lee County, N.A. -- A1/P-1, C
Barnett Bank of Manatee County, N.A. -- A1/P-1, C
Barnett Bank of Marion County, N.A. -- A1/P-1, C
Barnett Bank of Martin County, N.A. -- A1/P-1, C
Barnett Bank of Naples -- A1/P-1, C
Barnett Bank of Nassau County -- A1/P-1, C
Barnett Bank of North Central Florida -- A1/P-1, C
Barnett Bank of Northwest Florida -- A1/P-1, C
Barnett Bank of Palm Beach County -- A1/P-1, C+
Barnett Bank of Pasco County -- A1/P-1, C
Barnett Bank of Pinellas County -- A1/P-1, C+
Barnett Bank of Polk County -- A1/P-1, C
Barnett Bank of South Florida, N.A. -- A1/P-1, B
Barnett Bank of Southeast Georgia, N.A. -- A1/P-1, C
Barnett Bank of Southwest Florida -- A1/P-1, C
Barnett Bank of Southwest Georgia -- A1/P-1, C
Barnett Bank of Tallahassee -- A1/P-1, C
Barnett Bank of Tampa -- A1/P-1, C+
Barnett Bank of the Keys -- A1/P-1, C
Barnett Bank of the St. Johns -- A1/P-1, C
Barnett Bank of the Suncoast, N.A. -- A1/P-1, C
Barnett Bank of the Treasure Coast -- A1/P-1, C
Barnett Bank of Volusia County -- A1/P-1, C
Barnett Bank of West Florida -- A1/P-1, C
Baybank -- A3/P-2, C
Boatmen's Bank Iowa, N.A. -- A1/P-1, C
Boatmen's Bank of Southern Missouri -- A1/P-1, C
Boatmen's Bank of Tennessee -- A1/P-1, C
Boatmen's Credit Card Bank -- A1/P-1, C
Boatmen's First National Bank of Amarillo -- A1/P-1, C
Boatmen's First National Bank of Kansas City -- A1/P-1, C
Boatmen's First National Bank of Oklahoma -- A1/P-1, C
Boatmen's National Bank of Arkansas -- A1/P-1, C
Boatmen's National Bank of St. Louis -- Aa3/P-1, C+
Boston Safe Deposit & Trust Co -- A1/P-1, C+
Branch Banking and Trust Company -- A1/P-1, C+
Capital One Bank -- Baa2/P-3, D+
Central Carolina Bank and Trust Company -- A2/P-2, C
Central Fidelity National Bank -- A2/P-1, C
Centura Bank -- A3/P-2, C
Chase Manhattan Bank, N.A. -- A1/P-1, B
Chemical Bank -- Aa3/P-1, B
Chemical Bank (Delaware) -- A1/P-1, C+
Chemical Bank New Jersey, N.A. -- A1/P-1, C+
Chemical Bank, N.A. -- A1/P-1, C
Citibank (New York State) -- A1/P-1, C+
Citibank (South Dakota), N.A. -- A1/P-1, C+
Citibank, N.A. -- A1/P-1, B
Citizens Bank of Maryland -- A3/P-2, C
Colonial National Bank USA -- Baa1/P-2, D+
Colorado National Bank -- A1/P-1, C+
Columbus Bank & Trust Company -- A2/P-1, C
Comerica Bank -- A1/P-1, B
Comerica Bank-Illinois -- A1/P-1, C+
Compass Bank, Alabama -- A1/P-1, C+
Corestates Bank, N.A. -- Aa3/P-1, B+
Corestates Bank of Delaware N.A. -- Aa3/P-1, B
Crestar Bank -- A2/P-1, C+
European American Bank -- A2/P-1, C+
Farmers First Bank -- A3/P-2, C
FCC National Bank -- A1/P-1, C+
Fifth Third Bank -- Aa2/P-1, B+
Fifth Third Bank of Northwestern Ohio, N.A. -- Aa3/P-1, B
First Alabama Bank -- Aa2/P-1, B+
First Bank N.A. Milwaukee -- A1/P-1, C
First Bank National Association -- A1/P-1, B
First Bank of South Dakota, (N.A.) -- A1/P-1, C
First Fidelity Bank, N.A., New Jersey -- A1/P-1, B
First Hawaiian Bank -- A1/P-1, C+
First Interstate Bank of Oregon, N.A. -- A1/P-1, B
First Interstate Bank Denver, N.A. -- A1/P-1, C+
First Interstate Bank of Arizona, N.A. -- A1/P-1, C+
First Interstate Bank of California, N.A. -- A1/P-1, B
First Interstate Bank of Nevada, N.A. -- A1/P-1, C+
First Interstate Bank of Washington, N.A. -- A1/P-1, B
First Interstate Bank Texas, Houston -- A1/P-1, C+
First National Bank of Boston -- A2/P-1, C
First National Bank of Chicago -- A1/P-1, C+
First National Bank of Commerce -- A2/P-1, C+
First National Bank of Maryland -- A2/P-1, C+
First National Bank of Ohio -- A2/P-1, C+
First of America Bank-Illinois, N.A. -- A1/P-1, C+
First of America Bank-Indiana -- A1/P-1, C+
First of America Bank-Michigan N.A. -- A1/P-1, C+
First Omni Bank, N.A. -- A3/P-2, C
First Security Bank of Idaho, N.A. -- A1/P-1, C+
First Security Bank of New Mexico, N.A. -- A1/P-1, C
First Security Bank of Utah, N.A. -- A1/P-1, B
First Tennessee Bank N.A. -- A1/P-1, C+
First Union National Bank of Tennessee -- A1/P-1, C+
First Union National Bank of Florida -- A1/P-1, B
First Union National Bank of Georgia -- A1/P-1, C+
First Union National Bank of North Carolina -- Aa3/P-1, B+
First Union National Bank of South Carolina -- A1/P-1, C
First Union National Bank of Virginia -- A1/P-1, C+
First USA Bank -- Baa2/P-3, D+
First Virginia Bank -- Aa3/P-1, B+
Firstar Bank Milwaukee N.A. -- A1/P-1, C+
Firstar Bank of Minnesota N.A. -- A1/P-1, C
Fleet Bank -- A1/P-1, C+
Fleet Bank of Maine -- A1/P-1, C
Fleet Bank of Massachusetts, N.A. -- A1/P-1, C+
Fleet Bank, N.A. -- A1/P-1, C+
Fleet Bank-New Hampshire -- A1/P-1, C
Fleet Bank-Rhode Island -- A1/P-1, C+
Harris Trust & Savings Bank -- Aa2/P-1, C+
Hibernia National Bank -- Baa1/P-2, C
Huntington Bank of Michigan -- A1/P-1, C+
Huntington National Bank -- A1/P-1, C+
Huntington National Bank of Indiana -- A2/P-1, C+
Huntington National Bank of West Virginia -- A1/P-1, C+
Integra Bank/North -- A2/P-1, C+
Integra Bank/Pittsburgh -- A2/P-1, C+
Integra Bank/South -- A2/P-1, C+
J.P. Morgan Delaware -- Aa1/P-1, B+
Key Bank of Alaska -- A1/P-1, C
Key Bank of Colorado -- A1/P-1, C+
Key Bank of Idaho -- Aa3/P-1, C+
Key Bank of Maine -- Aa3/P-1, B
Key Bank of New York -- Aa3/P-1, B+
Key Bank of Oregon -- Aa3/P-1, B
Key Bank of Utah -- Aa3/P-1, C+
Key Bank of Washington -- Aa3/P-1, B
Key Bank of Wyoming-Cheyenne -- Aa3/P-1, C+
LaSalle National Bank -- A1/P-1, C+
Liberty National Bank and Trust Co. of Louisville -- Aa2/P-1, B
M&I Bank Fox Valley -- Aa3/P-1, C+
M&I Bank Northeast -- Aa3/P-1, C+
M&I Bank of Antigo -- Aa3/P-1, C+
M&I Bank of Beloit -- Aa3/P-1, C+
M&I Bank of Cambridge -- Aa3/P-1, C+
M&I Bank of Eagle River -- Aa3/P-1, C+
M&I Bank of Janesville -- Aa3/P-1, C+
M&I Bank of Mayville -- Aa3/P-1, C+
M&I Bank of Menomonee Falls -- Aa3/P-1, C+
M&I Bank of Mosinee -- Aa3/P-1, C+
M&I Bank of Onalaska -- Aa3/P-1, C+
M&I Bank of Oshkosh -- Aa3/P-1, C+
M&I Bank of Racine -- Aa3/P-1, C+
M&I Bank of Shawano, N.A. -- Aa3/P-1, C+
M&I Bank of Watertown -- Aa3/P-1, C+
M&I Bank S.S.B. -- Aa3/P-1, C+
M&I Central Bank & Trust -- Aa3/P-1, C+
M&I Central State Bank -- Aa3/P-1, C+
M&I Citizens American Bank -- Aa3/P-1, C+
M&I Community State Bank -- Aa3/P-1, C+
M&I First American National Bank -- Aa3/P-1, C+
M&I First National Bank (West Bend) Wisconsin -- Aa3/P-1, C+
M&I First National Bank of Superior -- Aa3/P-1, C+
M&I Lake Country National Bank -- Aa3/P-1, C+
M&I Lancaster State Bank -- Aa3/P-1, C+
M&I Madison Bank -- Aa3/P-1, B
M&I Marshall & Ilsley Bank -- Aa3/P-1, B
M&I Merchants Bank -- Aa3/P-1, C+
M&I Mid-State Bank N.A. -- Aa3/P-1, C+
M&I National Bank of Ashland -- Aa3/P-1, C+
M&I National Bank of Neillsville -- Aa3/P-1, C+
M&I Northern Bank -- Aa3/P-1, C+
M&I South Shore Bank -- Aa3/P-1, C+
M&I Thunderbird Bank -- A1/P-1, C
Manufacturers and Traders Trust Company -- A2/P-1, C
Marine Midland Bank -- A3/P-2, C+
MBNA America Bank, N.A. -- A2/P-1, C+
Mellon Bank, N.A. -- A1/P-1, B
Mercantile Bank of Illinois N.A. -- A2/P-1, C
Mercantile Bank of Kansas -- A2/P-1, C
Mercantile Bank of Kansas City -- A2/P-1, C
Mercantile Bank of Springfield -- A2/P-1, C
Mercantile Bank of St. Louis N.A. -- A1/P-1, C
Mercantile-Safe Deposit and Trust Company -- A1/P-1, B
Meridian Bank -- A1/P-1, B
Michigan National Bank -- A3/P-2, C
Midlantic National Bank -- A2/P-2, C+
Morgan Guaranty Trust Company of New York -- Aa1/P-1, A
National City Bank, Cleveland -- Aa3/P-1, B+
National City Bank, Columbus -- Aa3/P-1, B
National City Bank, Dayton -- Aa3/P-1, B
National City Bank, Indiana -- Aa3/P-1, B
National City Bank, Kentucky -- Aa3/P-1, B
National City Bank, Northeast -- Aa3/P-1, B
National City Bank, Northwest -- Aa3/P-1, B
NationsBank of Delaware, N.A. -- A1/P-1, C+
NationsBank of Florida, N.A. -- A1/P-1, B
NationsBank of Georgia, N.A. -- A1/P-1, C+
NationsBank of Tennessee, N.A. -- A1/P-1, C+
NationsBank of Texas, N.A. -- A1/P-1, B
NationsBank, N.A. -- A1/P-1, B
NationsBank, N.A.(Carolinas) -- A1/P-1, B
NatWest Bank (Delaware) -- A1/P-1, D+
NatWest Bank N.A. -- A1/P-1, C+
NBD Bank (Michigan) -- Aa2/P-1, B+
NBD Bank, N.A. (Indiana) -- Aa2/P-1, B
New Jersey National Bank -- Aa3/P-1, C+
Northern Trust Co. -- Aa3/P-1, B
Norwest Bank Colorado, N.A. -- Aa2/P-1, B
Norwest Bank Iowa, N.A. -- Aa2/P-1, B
Norwest Bank Minnesota, N.A. -- Aa2/P-1, B+
Norwest Bank Nebraska, N.A. -- Aa2/P-1, B
Norwest Bank South Dakota, N.A. -- Aa2/P-1, B
Old Kent Bank (Illinois) -- A2/P-1, B
Old Kent Bank (Michigan) -- A1/P-1, B
PNC Bank, Delaware -- A1/P-1, C+
PNC Bank, Kentucky, Inc. -- A1/P-1, C+
PNC Bank, N.A. -- A1/P-1, C+
PNC Bank, New England -- A2/P-1, C
PNC Bank, Ohio, N.A. -- A1/P-1, C+
Provident Bank -- A3/P-2, C
Regions Bank of Louisiana -- Aa3/P-1, C+
Republic National Bank of New York -- Aa1/P-1, B+
Rhode Island Hospital Trust National Bank -- A2/P-1, C
Riggs National Bank of Washington, D.C. -- Baa3/P-3, D+
Sanwa Bank California -- A2/P-1, C
Seattle-First National Bank -- Aa3/P-1, B
Shawmut Bank Connecticut N.A. -- A2/ P-1, C
Shawmut Bank, N.A. -- A2/P-1, C
Signet Bank/Maryland -- A3/P-2, C
Signet Bank/Virginia -- A3/P-2, C
Society Bank, Michigan -- Aa3/P-1, C+
Society National Bank -- Aa3/P-1, B+
Society National Bank, Indiana -- Aa3/P-1, B
Southern National Bank of North Carolina -- A1/P-1, C+
South Trust Bank of Alabama -- A1/P-1, C
Star Bank, N.A. -- A1/P-1, C+
State Street Bank & Trust Co. -- Aa2/P-1, B
Sumitomo Bank of California -- A3/P-2, D+
Summit Bank -- A3/P-2, C+
Sun Bank of Tampa Bay -- Aa3/P-1, B
Sun Bank, N.A. -- Aa3/P-1, B
Sun Bank/Miami N.A. -- Aa3/P-1, B
Sun Bank/South Florida, N.A. -- Aa3/P-1, B
Sunwest Bank of Albuquerque, N.A. -- A1/P-1, C
Texas Commerce Bank N.A. - Houston -- Aa3/P-1, C+
Third National Bank in Nashville -- Aa3/P-1, C+
Trust Company Bank -- Aa3/P-1, A
U.S. Bank of Washington, N.A. -- A1/P-1, C+
U.S. National Bank of Oregon -- A1/P-1, B
Union Bank -- A2/P-1, C+
Union Planters National Bank -- A3/P-2, C
United Jersey Bank -- A3/P-2, C
United States Trust Co. -- Aa3/P-1, B
Valley Bank Southwest -- Aa3/P-1, C+
Victoria Bank & Trust Company -- Baa1/P-2, D+
Wachovia Bank of Georgia, N.A. -- Aa2/P-1, B
Wachovia Bank of North Carolina, N.A. -- Aa2/P-1, A
Wachovia Bank of South Carolina, N.A. -- Aa2/P-1, B+
Wells Fargo Bank, N.A. -- A1/P-1, B
West One Bank -- A1/P-1, B
York Bank and Trust Company -- A3/P-2, C
Zions First National Bank -- A2/P-1, C