Moody's drops Triad Financial to Caa2

Moody's Investors Service said it downgraded Triad Financial Corp.'s corporate family rating to Caa1 from B2 and senior unsecured debt rating to Caa2 from B3, and placed them on review for further downgrade.

Moody's said the downgrade is precipitated by Triad's 8-K filing that this facility will cease to be available to the company to fund new originations as of June 30.

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