S/P AFFIRMS RATINGS ON SECURITY PACIFIC <SPC>
Standard and Poor's Corp said it
affirmed Security Pacific Corp's 4.5 billion dlrs of debt.
    S and P said that although the bank's decision today to
increase its reserve against developing country debt by 500 mln
dlrs will result in a loss in the second quarter, the firm
still expects to report a profit for the year.
    Affirmed were Security Pacific's AA senior debt, AA-minus
subordinated debt and preferred stock and A-1-plus commercial
paper. Also, uninsured certificates of deposit of Security
Pacific National Bank and Arizona Bank of Phoenix were affirmed
at AA/A-1-plus.
 Reuter
