NEW YORK - Moody's Investors Service said it placed long-term debt issued by Midlantic Corp. and deposit issues of its banking subsidiaries under review for possible upgradings, after the announcement this week that the New Jersey company would raise $113 million in equity.

The Moody's notice applied for the holding company and for Midlantic Banks Inc. senior debt rated B3 and subordinated debt rated Caa and for Continental Bank's and Midlantic National Bank's Ba2 rating for long-term deposits and Not Prime rating on short-term deposits.

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