Moody's Investors Service downgraded the long-term ratings of Advanta Corp. The rating agency lowered the credit card issuer's senior unsecured rating to 'Caa3' from Caa1.

Advanta Capital Trust I's trust preferred securities rating was lowered to 'C' from 'Caa3'. The rating agency said the outlook for the senior unsecured rating is negative while the outlook for the trust preferred rating is stable.

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