Moody's cuts ATF Bank

Moody's Investors Service said it downgraded ATF Bank's long-term local and foreign-currency deposit ratings to Ba3 from Ba2, its foreign currency senior unsecured debt rating to Ba3 from Ba2 and foreign currency junior subordinated debt rating to B2 from B1.

Moody's said it also assigned a negative outlook to the bank's deposit and debt ratings. ATF Bank's E+ stand-alone bank financial strength rating, which maps to B3 on the long-term rating scale, is unaffected by this and continues to carry a stable outlook.

The agency said these actions conclude the review for downgrade of ATF's ratings, implemented on June 14.

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