MOODY'S AFFIRMS AVCO UNIT'S LONG-TERM DEBT
Moody's Investors Service Inc said it
affirmed the long-term debt ratings but cut the commercial
paper to Prime-2 from Prime-1 of Avco Financial Services Inc, a
unit of Avco Corp.
    Avco Financial has 2.5 billion dlrs of debt outstanding.
    For the paper cut, Moody's cited a higher risk profile
inherent in the company's core business. Moody's said the
affirmation reflected its assessment of a less diversified risk
profile in the company's receivables.
    Affirmed were Avco Financial's A-3 senior debt, Baa-2
senior subordinated debt and Baa-3 junior subordinated debt.
 Reuter
