PNC FINANCIAL <PNCF.O> UNIT AFFIRMED BY S/P
Standard and Poor's Corp said it
affirmed the ratings on 500 mln dlrs of debt of PNC Funding
Corp, a unit of PNC Financial Corp.
    Affirmed were PNC Funding's AA-plus senior debt and
A-1-plus commercial paper. Also affirmed were the parent's AA
preferred stock and the AA-plus/A-1-plus certificates of
deposit of Pittsburgh National Bank, Provident National Bank
and Citizens Fidelity Bank and Trust Co.
    S/P said PNC's 110 mln dlr provision will reduce second
quarter earnings by 66 mln dlrs. The reserve for developing
countries is now 35 pct of loans to these countries.
 Reuter
