Duff & Phelps Credit Rating Co. upgraded $24 billion of Chase Manhattan Corp. and Citicorp debt, in another reflection of the money-centers' rebound from their lows of the late 1980s and early 1990s.

The firm upgraded Chase's and Citicorp's long-term senior debt rating from A-minus to A, the subordinated debt rating to A-minus from BBB-plus, and the preferred-stock rating from BBB to BBB-plus.

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