Moody's said improving asset quality, earnings, capital, and liquidity sparked the credit review, which will focus on how management disposes of remaining problem real estate assets. Favorable Signs Among positive developments at the company, Moody's noted that regulatory agreements with the Comptroller of the Currency and the Federal Reserve Bank of Atlanta were recently lifted. In addition, Moody's noted that the company last month reinstated the dividend on its common stock. Regarding First Alabama, Moody's said it may downgrade the Montgomery-based company's Aa2-rated long-term debt because of its recently announced acquisition of Secor Bank, Birmingham. Other Actions The rating agencies, took the following other actions last week: Ashikaga Bank: Moody's lowered long-term deposits to A3 from A1 and subordinated debt to Baa1 from A2.