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BRIEFLY

Standard & Poor's downgraded First Interstate.

March 13, 1987

The rating agency cited an increase in the Los Angeles banking company's problems with bad loans, particularly in real estate, energy and consumer lending. But S&P also said: "First Interstate continues to enjoy high liquidity, strong funding and an extensive interstate presence. . . . The firm is significantly less vulnerable to Latin American credits than its peers." The action, which dropped ratings on several issues one notch, affects about $1.3 billion of First Interstate securities.

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