Moody’s Downgrades Glendale Federal Bank: The debt...
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From Times Staff and Wire Reports
Moody’s Downgrades Glendale Federal Bank: The debt rating agency lowered ratings on the firm’s long-term deposits and senior debt to BA2 from BA1, and its subordinated debt to B2 from BA3. The ratings for short-term deposits and commercial paper remain Not Prime. Moody’s Investor Service said the rating for subordinated debt of Glenfed Inc., Glendale’s parent, was downgraded to B3 from B1. The rating for senior debt of Glenfed Financial Corp. was lowered to BA3 from BA1.
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