Business Editors
The following is a complete list of Fitch's ratings for FleetBoston Financial Corporation and its subsidiaries:
FleetBoston Financial Corp:
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.
Fleet National Bank:
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to 'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.
Fleet Bank (Rhode Island) NA:
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to 'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.
Fleet Capital Trust I-VIII
BankBoston Capital Trust I-IV
Summit Capital Trust I
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to 'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.
Inactive affiliates with rated issues outstanding:
Fleet Mortgage Group, Inc.
-- Senior Long-Term to 'A' from 'A+'.
Fleet Business Credit Corp
-- Senior Long-Term to 'A' from 'A+'.
Fleet Credit Card LLC
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to 'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.
BankBoston Corporation
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to 'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.
Summit Bancorp
-- Subordinated Debt to 'A-' from 'A'.
Shawmut National Corporation
-- Subordinated Debt to 'A-' from 'A'.
Ratings Changed and Withdrawn:
Fleet Mortgage Group, Inc.
-- Senior Short-Term to 'F1' from 'F1+'.
Fleet Business Credit Corp.
-- Senior Short-Term to 'F1' from 'F1+'.
Summit Bank - (NJ)
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to 'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.
Summit Bank - (PA)
-- Long-term deposits to 'A+' from 'AA-'; -- Short-term deposits to 'F1' from 'F1+'; -- Senior long-term to 'A' from 'A+'; -- Senior short-term to 'F1' from 'F1+'; -- Individual 'B'; -- Support '5'.