Chief Financial Officer
Resource America, Inc.
1521 Locust Street-4th Floor
Philadelphia, PA 19102
215/546-5005, 215/546-5388 fax
RESOURCE AMERICA REPORT UPGRADE
IN DEBT RATING FROM STANDARD & POOR'S
Philadelphia, PA, 8/26/1998 - Resource America, Inc. (NASDAQ:REXI) (the "Company") announced today that Standard & Poor's assigned its single "B-" long-term credit rating to the Company and to the company's $115 million 12% senior unsecured notes due 2004.
This signifies a rating upgrade for the Company and its unsecured notes. Although S&P has not previously rated the Company, Moody's had issued a rating in July 1997 of Caal (equivalent to S&P's CCC+).