Standard & Poor’s raised the senior debt rating of First Interstate Bancorp to A-minus from BBB-plus, citing revenue growth and diminishing bad loans. It was the second S&P; upgrade this year for First Interstate. . . . Shareholders of Primerica Corp. and Travelers Corp. approved their previously announced merger. Primerica will change its name to Travelers Inc. today, when the transaction closes, company officials said. . . . Royal Dutch/Shell Group and Italy’s Montedison announced a long-delayed plastics merger.
From Times Staff and Wire Reports