S&P shifts First Heartland Jusan Bank view to negative

S&P said it affirmed First Heartland Jusan Bank’s B and kzBB+ ratings, removed them from CreditWatch negative but revised its outlook to negative. The agency placed First Heartlands’ ratings on CreditWatch on Oct. 20.

First Heartland bought a 99.88% stake in ATFBank last month.

The bank’s negative outlook reflects strategic execution risks and potential for a future reduction in the consolidated group’s capitalization, S&P said.

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