Moody's could lift ATF Bank

Moody's Investors Service said it placed on review for possible upgrade the Ba1/Not-Prime local-currency deposit ratings, the Ba1 senior unsecured notes rating and the Ba3 junior subordinated debt rating of ATF Bank.

The bank's Ba1/Not-Prime foreign-currency deposit ratings and D- bank financial strength rating were affirmed.

The outlook is stable.

The rating action reflects the June 21 announcement that Bank Austria Creditanstalt AG signed a share purchase agreement with private shareholders to acquire a majority holding in ATF Bank. The deal is expected to close in the second half of 2007.

Moody's review will focus on the support that ATF Bank is likely to receive from Bank Austria, the agency said.

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