BANKING & FINANCE - Sept. 17, 1992

Rating on Ahmanson’s Debt Lowered: Standard & Poor’s lowered its ratings on H. F. Ahmanson & Co.’s subordinated debt to BBB from BBB+, on its preferred stock to BBB- from BBB and on its senior shelf debt to BBB+ from A-. It maintained its rating on Ahmanson’s Home Savings of America unit: A- on senior debt, BBB+ on subordinated debt, A/A-2 on uninsured certificates of deposit and A-2 on commercial paper. S&P; said the lower ratings on Ahmanson reflect “asset-quality deterioration . . . and related lower operating profitability.” The firm’s non-performing assets have increased significantly the last six months to $2.5 billion, or 6.35% of loans plus other real estate owned, the rating agency said.