BANK OF NEW YORK <BK> DEBT AFFIRMED BY S/P
Standard and Poor's Corp said it
affirmed ratings on 500 mln dlrs of Bank of New York Co debt
after the bank set a special LDC loan loss reserve.
    Affirmed are the A-plus senior debt rating, the A
subordinated debt, A-1-plus commercial paper and respective
A-plus and A1-plus ratings on certificates of deposit of Bank
of New York and Bank of New York (Delaware).
    S and P said the bank's 135 mln dlr addition to its loan
loss reserve conservatively addresses LDC exposure. S and P
said the resulting second quarter loss expected will not
substantially diminish fundamental earnings strength.
 Reuter
