S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.
* Moody's downgraded Commerzbank AG's junior senior unsecured debt rating to Baa2 from Baa1. The agency also downgraded the junior senior unsecured debt ratings of Dresdner Bank AG, Hypothekenbank Frankfurt AG and RHEINHYP Rheinische Hypothekenbank — whose debts were assumed by Commerzbank — to Baa2 from Baa1.
* Moody's assigned Polish mortgage bank mBank Hipoteczny SA Baa2/Prime-2 long- and short-term issuer ratings, with the stable outlook on the long-term rating driven by the stable outlook on parent mBank SA's ratings. The agency also assigned mBank Hipoteczny A3/Prime-2 long- and short-term counterparty risk ratings and A3(cr)/Prime-2(cr) long- and short-term counterparty risk assessments. The outlook on mBank Hipoteczny was changed to stable from Rating Withdrawn.
* ACRA affirmed Russia-based JSC Bank Realist's B(RU) credit rating with a Rating under revision: developing status.
* ACRA also affirmed Russia-based BaikalInvestBank JSC's B-(RU) credit rating with a Rating under revision: developing status.
* S&P Global Ratings raised Sharjah Islamic Bank PJSC's long-term issuer credit rating to A- from BBB+ with a stable outlook, and affirmed the United Arab Emirates-based bank's A-2 short-term issuer credit rating.
* Moody's downgraded Bahrain-based Gulf International Bank BSC's baseline and adjusted baseline credit assessments to "ba2" from "ba1." The agency affirmed the bank's Baa1/P-2 foreign-currency deposit ratings, Baa1(cr)/P-2(cr) long- and short-term counterparty risk assessments, and Baa1/P-2 long- and short-term counterparty risk ratings. Also affirmed was the bank's Baa1 foreign-currency senior unsecured debt rating. The outlook on the bank and its long-term deposit and senior unsecured debt ratings was changed to stable from negative.
* Moody's upgraded Kuwait Finance House KSCP's baseline and adjusted baseline credit assessments to "baa3" from "ba1" and affirmed its long- and short-term local- and foreign-currency deposit ratings at A1/P-1. Also affirmed were the bank's A1/P-1 long-and short-term counterparty risk ratings and Aa1(cr)/P-1(cr) long- and short-term counterparty risk assessments. The outlook on the bank remains stable.
* Fitch Ratings affirmed Qatar's AA-/F1+ long- and short-term foreign- and local-currency issuer default ratings, with stable outlooks on the long-term ratings. Also affirmed were the country's AA country ceiling and AA- long-term senior unsecured debt rating.
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