Business Services Industry
MOODY'S RATES ATFBANK'S SUBORDINATED NOTES AT BA3
Info-Prod Research (Middle East), November, 2006
Moody's Investors Service has assigned along-term foreign currency debt rating of Ba3 to the upcoming issue ofsubordinated loan participation notes to be issued on a limited recoursebasis by ATF Capital B.V. for the sole purpose of funding a subordinatedloan to Kazakhstan's ATFBank (rated Ba1/NP for deposits and D- forfinancial strength).
These notes and the underlying loan will qualify asjunior subordinated debt as per Moody's classification. The amount of theissue has yet to be determined. The final rating will be assigned uponreceipt and review of the final documentation. The outlook for the ratingis stable. The rating is based on Moody's assessment of ATFBank's fundamental creditquality which incorporates, apart from the bank's intrinsic financialstrength, potential...
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