Fitch Withdraws Advanta Corp. and Subsidiary Ratings

2009-10-23 22:18:01 -

Fitch Ratings has revised the trust preferred rating of Advanta Capital Trust I to 'C/RR6' from 'C/RR5' to reflect the reduced recovery prospects for holders that did not participate in the company's tender for the securities. All other ratings have been affirmed.

Concurrently, Fitch has withdrawn the Issuer Default Ratings (IDR) and outstanding debt ratings for Advanta Corp. and its subsidiaries.

Fitch

has taken the following rating actions.

Advanta Capital Trust I


--Trust preferred revised to 'C/RR6' from 'C/RR5'.

Advanta Corp.

--Long-term Issuer Default Rating (IDR) remains at 'RD';

--Senior debt affirmed at 'C/RR5'.

Advanta Bank Corp.

--Long-term IDR affirmed at 'CC';

--Short-term IDR affirmed at 'C';

--Long-term deposits affirmed at 'B-/RR2'.

All of the ratings have been withdrawn.

Fitch will no longer provide ratings or analytical coverage on Advanta or its subsidiaries.

Additional information is available at www.fitchratings.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

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IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.FITCHRATINGS.COM : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2FWWW .. .

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Fitch Ratings, New YorkMeghan (Crowe) Neenan, CFA, 212-908-9121Sadia
Afridi, 212-908-0327orBrian Bertsch, 212-908-0549 (Media
Relations) brian.bertsch@fitchratings.com : mailto:brian.bertsch@fitchratings.com