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MEA ratings roundup through May 9


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MEA ratings roundup through May 9

S&P Global Market Intelligence presents a weeklyoverview of ratings actions on Middle Eastern and African financialinstitutions and economies. Ratings actions are listed by announcement date inreverse chronological order.


*A.M. Best lowered toB++ (Good) from A- (Excellent) the financial strength rating of . The rating agency also lowered the company's issuer credit ratingto "bbb+" from "a-." Both ratings were removed from underreview with negative implications and assigned a stable outlook.

*Moody's confirmed SouthAfrica's Baa2 long-term government bond and issuer ratings with anegative outlook, concluding a review for downgrade that commenced March 8.

*Fitch Ratings revisedthe outlook on the long-term foreign- and local-currency issuer default ratingsof Gabon to negative from stable and affirmed them at B+. The agency affirmedthe short-term issuer default ratings at B.


*Fitch downgradedGulf International BankB.S.C.'s long-term issuer default rating to A- from A and itsshort-term issuer default rating to F2 from F1. The outlook on the long-termrating is negative. The agency also downgraded the rating on the bank's seniorunsecured debt to A- from A.


*Moody's downgraded Banco Angolano de Investimentos SA's global long-termforeign-currency deposit ratings to B2 from B1. The rating agency downgradedthe bank's long-term counterparty risk assessment to B1(cr) from Ba3(cr), whileconfirming the bank's B1 global local-currency deposit ratings and"b3" baseline credit assessment and adjusted baseline creditassessment. All ratings have a negative outlook on account of the negativeoutlook on the issuer rating of the Angolan government.

*S&P Global Ratings lowered Commercial Bank (Q.S.C.)'s long-term counterparty creditrating to BBB+ from A-, while affirming the bank's A-2 short-term counterpartycredit rating. The outlook on the long-term rating is negative. The ratingagency affirmed the A-/A-2 long- and short-term counterparty credit ratings onDoha Bank Q.S.C. andQatar Islamic Bank(S.A.Q), while revising the outlook on both banks to negative fromstable. S&P also affirmed Qatar National Bank SAQ's A+/A-1 long- and short-termcounterparty credit ratings with a stable outlook.

*Moody's downgradedAccess Bank Plc'slong-term local- and foreign-currency issuer ratings and long-termlocal-currency deposit rating to B1 from Ba3, its long-term foreign-currencydeposit rating to B2 from B1 and its long-term counterparty risk assessment toB1(cr) from Ba3(cr). The lender's baseline and adjusted baseline credit assessmentswere confirmed at "b2." The agency downgraded 's long-term local-and foreign-currency issuer ratings to B1 from Ba3. Moody's also confirmedSterling Bank Plc'sbaseline and adjusted baseline credit assessments at "b3," itslong-term counterparty risk assessment at B1(cr) and its long-term local- andforeign-currency issuer and deposit ratings at B2.

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