S&P: ATF on positive watch

Standard & Poor's said it placed its B+ long-term counterparty credit rating on ATF Bank on CreditWatch with positive implications.

At the same time, the B short-term counterparty credit rating on ATF was affirmed, the agency said, noting that the rating actions follow the announcement that UniCredito Italiano SpA has signed a share purchase agreement to acquire a majority shareholding in ATF, through its subsidiary, Bank Austria Creditanstalt AG.

The CreditWatch placement on ATF reflects the strong upside potential for the bank's creditworthiness, resulting from the change of control, S&P said.

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