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Fitch Rates Provident Bank of Maryland Subordinated Debt Issue ‘BBB-’ (Business Wire)

NEW YORK—-Fitch assigned a ‘BBB-’ rating to the $50 million subordinated notes issued by Provident Bank of Maryland, the banking subsidiary of Provident Bankshares, Corp. The notes, which carry a coupon of 9.50%, mature May 1, 2018 and are callable at par beginning on May 1, 2013.

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