S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.
* Fitch Ratings affirmed Poland-based Bank Ochrony Środowiska SA's long- and short-term issuer default ratings at BB-/B and the national long- and short-term ratings at BBB-(pol)/F3(pol), with a stable outlook on the long-term ratings. Also affirmed were the bank's "bb-" viability rating and its BBB-(pol)/F3(pol) national long- and short-term senior unsecured debt ratings.
* Fitch affirmed Getin Noble Bank SA's long-term issuer default and national long-term ratings at B- and BB-(pol), respectively, with negative outlooks. The rating agency assigned the Polish lender a national short-term rating of B(pol), while the short-term issuer default rating was affirmed at B. Also affirmed were the bank's "b-" viability rating, 5 support rating and NF support floor.
* In Turkey, Fitch affirmed the long-term B+ foreign- and BB local-currency issuer default ratings of Commercial Bank (PSQC) units Alternatifbank AŞ and Alternatif Finansal Kiralama AS, Bank Hapoalim BM unit Bankpozitif Kredi ve Kalkınma Bankası AŞ, ICBC Turkey Bank AŞ unit ICBC Turkey Bank AŞ, and Al Futtooh Holding Co. KSC (Closed) unit Burgan Bank AŞ, with negative outlooks. Also affirmed were the B short-term foreign- and local-currency issuer default ratings of the five Turkish banks as well as Turkland Bank AȘ, which is 50%-owned by Lebanon's BankMed SAL and Jordan's Arab Bank PLC each.
The rating agency affirmed Alternatifbank's viability rating at "b-", that of ICBC Turkey at "b+", that of Turkland Bank at "ccc+" and of Burgan Bank at "b". The viability rating of BankPozitif Kredi ve Kalkinma Bankasi was affirmed at "b" and subsequently withdrawn. The 6 entities had their support ratings affirmed at 4, and the national long-term rating of them all except Turkland Bank were affirmed at AA(tur), with stable outlooks.
* Fitch affirmed the B+ long-term foreign-currency issuer default ratings and the BB- long-term local-currency issuer default ratings of Kuwait Finance House KSCP unit Kuveyt Türk Katılım Bankası AŞ, National Commercial Bank unit Türkiye Finans Katılım Bankası AŞ, and Vakıf Katılım Bankası AŞ, with negative outlooks. The subsidiaries' short-term foreign- and local-currency issuer default ratings were affirmed at B. Also affirmed were their AA(tur) national long-term rating and the support rating of 4. The viability ratings of Kuveyt Türk and Türkiye Finans were affirmed at "b+" and that of Vakif Katilim at "b-". At the same time, Vakif Katilim's support rating floor was affirmed at B+.
* Fitch downgraded the long- and short-term issuer default ratings of mBank SA and mBank Hipoteczny SA to BBB-/F3 from BBB/F2 in light of Commerzbank AG's decision to divest its majority stake in mBank. The rating agency also lowered mFinance France SA's long-term senior unsecured rating to BBB- from BBB and placed it on rating watch positive.
* S&P Global Ratings upgraded VTB Bank PJSC unit JSC VTB Bank (Georgia)'s long-term issuer credit rating to BB from BB-, following a similar action on the sovereign. The agency affirmed the Georgian lender's short-term issuer credit rating at B.
* S&P upgraded Austria-based Hypo Tirol Bank AG's long- and short-term issuer credit ratings to A/A-1 from A-/A-2. The outlook on the bank is stable.
* Fitch affirmed the long- and short-term issuer default ratings at BBB-/F3 and the national long- and short-term ratings of Poland-based Bank Millennium SA and unit Euro Bank SA at A(pol)/F1(pol), with a stable outlook on the long-term ratings. The lenders' "bbb-" viability ratings were also affirmed. Euro Bank's ratings were subsequently withdrawn. Bank Millennium is owned by Portugal's Millennium BCP.
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