trending Market Intelligence /marketintelligence/en/news-insights/trending/7lzmAajHl0w9KPhIiegIkA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

EMEA ratings roundup, May 24

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9

Blog

Banking Essentials Newsletter: April Edition - Part 2

Blog

The Evolution of Cloud Banking: Successful Implementation & Frameworks

Blog

Banking Essentials Newsletter - April Edition


EMEA ratings roundup, May 24

S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.

EUROPE

* Moody's upgraded Belgium-based Belfius Banque SA's long-term bank deposit and senior unsecured debt ratings to A1 from A2 and changed the outlook on the ratings to stable from positive. Also upgraded were the bank's long-term counterparty risk ratings to Aa3 from A1, long-term counterparty risk assessment to Aa3(cr) from A1(cr), and baseline and adjusted baseline credit assessments to "baa1" from "baa2." The rating agency also affirmed the bank's Prime-1 short-term bank deposit and counterparty risk ratings and Prime-1(cr) short-term counterparty risk assessment. Moreover, the agency also upgraded Luxembourg-based unit Belfius Financing Co. SA's backed senior unsecured debt rating to A1 from A2 and changed the outlook to stable from positive.

* Moody's raised Poland-based mBank SA long-term bank deposit rating to A3 from Baa1 and revised the outlook on the rating to stable from positive. The agency also upgraded the bank's baseline credit assessment to "baa3" from "ba1," adjusted baseline credit assessment to "baa2" from "baa3," and long- and short-term counterparty risk assessments to A2(cr)/Prime-1(cr) from A3(cr)/Prime-2(cr). Moreover, the agency upgraded the bank's long- and short-term counterparty risk ratings to A2/Prime-1 from A3/Prime-2, and affirmed its Prime-2 short-term bank deposit rating.

* Fitch Ratings upgraded Rothschild & Co. SCA unit N M Rothschild & Sons Ltd. long- and short-term issuer default ratings to A-/F1 from BBB+/F2, with a stable outlook on the long-term rating. Meanwhile, the agency downgraded the long-term issuer default rating of Rothschild Martin Maurel SCS, another subsidiary of Rothschild, to A- from A, with a stable outlook on the rating. Moreover, Rothschild Martin Maurel's viability rating was downgraded to "a-" from "a," while its F1 short-term issuer default rating, 5 support rating and No Floor support rating floor were affirmed.

* Fitch Ratings affirmed OJSC International Bank of Azerbaijan B-/B long- and short-term issuer default ratings and revised the outlook on the long-term rating to positive from stable. The agency also affirmed the bank's "b-" viability rating, 5 support rating and No Floor support rating floor.

* ACRA affirmed the BB-(RU) credit rating of Russia-based Joint Stock Commercial Mortgage Bank AKIBANK (PJSC), and changed the outlook to positive.

* Fitch Ratings raised its outlook on Portugal to positive from stable, citing the expected continued decline in the country's public debt. The agency also affirmed the country's BBB long-term foreign- and local-currency issuer default ratings.

* S&P Global Ratings affirmed BBB+/A-2 long- and short-term issuer credit ratings of Deutsche Bank AG and its subsidiaries, including Deutsche Bank Luxembourg SA, Deutsche Bank AG, Milan, Deutsche Bank AG (Madrid Branch), and Deutsche Bank AG London Branch, with stable outlook on the long-term ratings. The agency also affirmed the German bank's BBB+ senior unsecured debt rating, and the BBB+p senior unsecured debt rating of Deutsche Bank AG London Branch.

* Fitch Ratings affirmed Ukraine-based JSC Alfa-Bank's B- long-term foreign- and local-currency issuer default ratings and B short-term issuer default rating. The agency also affirmed the bank's AA(ukr) national long-term rating, "ccc" viability rating, 5 support rating, and B- senior unsecured debt ratings. The outlook on the long-term foreign- and local-currency issuer default ratings, and the national long-term rating is stable.

* Fitch Ratings affirmed Azerbaijan-based Expressbank OJSC's B long- and short-term issuer default ratings, with a stable outlook on the long-term rating. The agency also affirmed the bank's 5 support rating, "b" viability rating and No Floor support rating floor.

* Fitch Ratings affirmed Armenia's B+ long-term foreign- and local-currency issuer default ratings, with a positive outlook. The agency also affirmed the country's B short-term foreign- and local-currency issuer default ratings and BB- country ceiling.

* DBRS confirmed Republic of Latvia's A(low)/R-1(low) long- and short-term foreign and local currency issuer ratings. The trends on all the ratings have been changed to positive.

* DBRS confirmed the Republic of Estonia's AA(low)/R-1(middle) long- and short-term foreign and local currency issuer ratings. The trends on all the ratings are stable.

Links are current as of publication time, and we are not responsible if those links are unavailable later.

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