NEW YORK - Kemper Securities downgraded National City Corp. to "long-term buy" from "strong buy."

Kemper also reduced its 1993 earnings estimate to $2.40 a share from $2.50 and its 1994 estimate to $2.70 from $2.78.

The firm attributes the earnings reductions to an acceleration in amortization of mortgage servicing rights. The bank holding company earned $4.19 per share in 1992.

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