Associates to Buy $120M of Citgo Card Debt Chairman of Deutsche's Spanish

Associates First Capital Corp. said Wednesday that it has an agreement to buy $120 million of private-label credit card receivables from Citgo Petroleum Corp.

Terms of the agreement were not disclosed. The Tulsa, Okla.-based oil company will continue to manage its fleet and commercial card businesses.

Associates, the largest private-label oil card issuer, manages programs for British Petroleum Amoco, Texaco Inc., and Shell Oil Co. -- Lisa Fickenscher

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