Moody's cuts ATF notes

Moody's Investors Service said it has downgraded the $100 million of series 2006 A notes issued by ATF DPR Co.

The rating action follows Moody's downgrade of the local currency deposit rating of ATF Bank, the originator, from Ba1 to Ba2 on July 26.

According to the agency, the downgrade of the ATF Bank's deposits and senior unsecured debt ratings is in response to the weakening of its credit profile over the last year.

This is reflected by a significant deterioration of its loan portfolio, its poor financial results and a weak capitalization, the agency added.

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