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MEA ratings roundup through Aug. 13

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MEA ratings roundup through Aug. 13

S&P Global Market Intelligence presents a weekly overview of ratings actions on Middle Eastern and African financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.

Aug. 13

* S&P Global Ratings affirmed the long- and short-term issuer credit ratings of Islamic Development Bank at AAA/A-1+, with a stable outlook on the long-term rating.

* Fitch Ratings affirmed Namibia's BB+/B long- and short-term foreign- and local-currency issuer default ratings, with a stable outlook on the long-term ratings.

Aug. 10

* S&P changed the outlook on Rwanda to positive from stable and affirmed its long- and short-term foreign- and local-currency sovereign credit rating at B/B.

* S&P affirmed Angola's B-/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

* Capital Intelligence Ratings affirmed Kuwait's long- and short-term foreign- and local-currency ratings at AA-/A1+, with the outlook remaining stable.

* CI Ratings affirmed the BBB/A3 long- and short-term foreign- and local-currency sovereign ratings of Oman and revised the outlook on the ratings to negative from stable.

Aug. 9

* Moody's downgraded United Arab Bank PJSC's long- and short-term deposit ratings to Baa3/P-3 from Baa2/P-2, and revised the outlook on the long-term deposit rating to stable from negative. The agency also downgraded the bank's baseline and adjusted baseline credit assessments to "ba2" from "ba1" and affirmed its short-term counterparty risk rating and assessment at P-2 and P-2 (cr), respectively.

* CI Ratings affirmed the financial strength rating of Industrial Bank of Kuwait KSC at A.

* CI Ratings affirmed the B/B long- and short-term foreign-currency ratings of Egypt-based QNB Alahli SAE, with a positive outlook.

Aug. 7

* Fitch upgraded Saudi British Bank's short-term foreign-currency issuer default rating to F1 from F2. The agency also affirmed the lender's long-term foreign- and local-currency issuer default ratings at A-, with a stable outlook on both ratings, and its viability rating at "a," among other ratings.

* Fitch affirmed the A-/F1 long- and short-term issuer default ratings of Saudi Arabia-based lenders Samba Financial Group, National Commercial Bank and Al Rajhi Banking & Investment Corp., with a stable outlook on the long-term rating. Fitch also affirmed all three banks' "a-" viability ratings and 1 support ratings.

* Fitch affirmed the A-/F2 long- and short-term issuer default ratings of Banque Saudi Fransi and Riyad Bank, with a stable outlook on the long-term ratings. Also affirmed were both lenders' "bbb+" viability ratings and 1 support ratings.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.