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Moody's drops Aiful to junk
Moody's Investors Service said it downgraded the long-term senior unsecured debt and issuer ratings of Aiful Corp. to Ba2 from Baa3.
The outlook is negative.
The action concludes the review begun on March 5 and incorporates a revision to the agency's stress simulation assumptions for the consumer loan specialists and a concomitant reassessment of Aiful's standalone financial strengths, according to Moody's.
The downgrade reflects the view that Aiful's current reserves are not sufficient to fully cover the revised risk chunk, the agency said.
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