NationsBank Corp.'s subsidiary bank ratings were upgraded to AA-minus from A-plus by Fitch Investors Service, which cited the company's progress in consolidating operations.

The action affects certificates of deposit, bank notes, and structured transactions of NationsBank, NationsBank South, NationsBank of Texas, NationsBank of Delaware, and NationBank of Tennessee.

The rating agency affirmed its ratings on NationsBank Corp. subordinated debt, preferred stock and commercial paper.

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