Moody's may cut ATF Bank

Moody's Investors Service said it placed on review for downgrade ATF Bank's Ba3 long-term local- and foreign-currency deposit ratings, Ba3 foreign-currency senior unsecured and B2 foreign-currency junior subordinated debt ratings.

The decision to review the bank's ratings for possible downgrade is triggered by the review for possible downgrade of UniCredit SpA's ratings, Moody's said.

Unicredit is ATF Bank's ultimate parent and Moody's said it currently incorporates moderate parental support probability in ATF Bank's deposit and debt ratings, which results in three-notches of uplift from the bank's standalone credit strength of B3, the agency said.

The review will consider the effect of a possible downgrade of UniCredit's ratings on ATF Bank's ratings, Moody's said.

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