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

Dec. 23

* Fitch decided to withdraw approximately 150 public Russian national scale ratings by March 31, 2017.

* Fitch took various ratings actions on Banca Popolare di Milano Scarl and Banco Popolare Società Cooperativa, including downgrading Banca Popolare di Milano's long-term issuer default rating to BB- from BB+ and its viability rating to "bb-" from "bb+," removing the long-term rating from Rating Watch Negative and assigning it a stable outlook. In addition, Fitch lowered Banco Popolare's long-term issuer default rating to BB- from BB and its viability rating to "bb-" from "bb." The outlook on the long-term issuer default rating is stable. Meanwhile, Fitch affirmed various other ratings of the banks.

* S&P Global Ratings affirmed DEPFA BANK Plc-owned Depfa Pfandbrief Bank International SA's long- and short-term counterparty credit ratings at A-/A-2 and subsequently withdrew them at the lender's request. The German government's winding-up institution, FMS Wertmanagement AöR, is the ultimate parent of Depfa Pfandbrief Bank International.

* Fitch downgraded to AA- from AA Belgium's long-term foreign- and local-currency issuer default ratings, with stable outlooks. At the same time, it affirmed Belgium's AAA country ceiling and F1+ short-term foreign- and local-currency issuer default ratings. In addition, the agency downgraded to AA- from AA the issue rating on the country's senior unsecured foreign- and local-currency bonds and affirmed the F1+ issue rating on the short-term debt.

* Fitch affirmed UniCredit SpA-owned UniCredit Bank Austria AG's long-term issuer default rating at BBB+, with a negative outlook; its short-term issuer default rating at F2 and its viability rating at "bbb+."

* DBRS confirmed the U.K.'s long-term foreign- and local-currency issuer ratings at AAA and its short-term foreign- and local-currency issuer ratings at R-1 (high). The trend on the ratings is stable.

Dec. 22

* Fitch assigned several ratings to Banco Santander SA-owned Grupo Financiero Santander Mexico SAB de CV, including a viability rating of bbb+ and a support rating of 2. The rating agency also issued to the bank long- and short-term local- and foreign-currency issuer default ratings of BBB+ and F2, respectively. The long- and short-term national ratings on the bank, meanwhile, were set at AAA(mex) and F1(mex), respectively. The outlook is stable.

* Moody's affirmed AS Expobank's B1 long-term deposit rating and changed the outlook on the rating to negative from stable. The rating agency also affirmed the bank's "b1" baseline credit assessment and adjusted baseline credit assessment and its Ba3(cr) long-term counterparty risk assessment.

* The outlook for the Portuguese banking sector for 2017 is negative, according to Fitch. However, the outlook on banks' ratings is stable.

* S&P affirmed the insurer financial strength and counterparty credit ratings of PZU SA and its core subsidiaries at A-, with a negative outlook.

* Fitch affirmed UniCredit SpA's long-term issuer default rating at BBB+, with a negative outlook, its short-term issuer default rating at F2 and its viability rating at "bbb+." At the same time, the agency affirmed UniCredit Bank AG's long-term issuer default rating at A-, with a negative outlook, its short-term issuer default rating at F2 and its viability rating at "a-."

* Fitch affirmed JSC Cartu Bank's long- and short-term foreign-currency issuer default ratings at B+/B, with a stable outlook, and its viability rating at b+. The agency affirmed JSC Basisbank's long- and short-term foreign-currency issuer default ratings at B, with a stable outlook, and its viability rating at "b."

Dec. 21

* Moody's assigned PJSC Sovcombank B1/Not Prime long- and short-term local- and foreign-currency deposit ratings. Other ratings assigned to the Russian bank include "b1" baseline and adjusted baseline credit assessments and Ba3(cr)/NP(cr) counterparty risk assessments.

* Moody's assigned Raiffeisen Zentralbank Österreich AG-owned Tatra banka a.s. Baa2 long-term local- and foreign-currency issuer ratings, with a positive outlook.

* Fitch downgraded JSC Rosagroleasing's national long-term rating to AA-(rus) from AA(rus), with a stable outlook, to bring it in line with the latest Russian national-scale mapping. At the same time, the agency affirmed Rosagroleasing's BB/B long- and short-term foreign-currency issuer default ratings. The outlook on the long-term foreign-currency issuer default rating is stable.

* S&P placed Otkritie Holding JSC-owned Otkritie Financial Corp. Bank's BB- long-term counterparty credit rating and "ruAA-" Russia national-scale rating on CreditWatch with negative implications. At the same time, the agency affirmed Otkritie Financial Corp.'s B short-term counterparty credit rating.

* S&P revised the outlook on UniCredit SpA-owned Zagrebacka Banka d.d. to stable from negative and affirmed the lender's long-term counterparty credit rating at BB.

* Moody's upgraded Banco Santander SA's Santander UK Plc's long-term issuer rating and senior unsecured ratings to Aa3 from A1, while revising the outlook on them to negative from stable. Moody's also upgraded Santander UK units Abbey National Treasury Services Plc's backed senior unsecured regular bond/debenture and Alliance & Leicester plc's long-term issuer rating to Aa3 from A1. The outlook on the two ratings was revised to negative from stable.

* Moody's placed the credit ratings of Allied World Assurance Co. Holdings AG and its subsidiaries on review for possible downgrade. Allied World recently agreed to acquire the company in a $4.9 billion cash-and-stock deal.

* S&P lowered the corporate credit rating of FLY Leasing Ltd. to BB- from BB after reassessing the company under a new set of rating criteria. The rating outlook is stable.

* S&P affirmed Landwirtschaftliche Rentenbank's AAA long-term and A-1+ short-term issuer credit ratings, with a stable outlook.

* S&P assigned Permanent TSB Group Holdings Plc long- and short-term issuer counterparty credit ratings of B/B, with a stable outlook.

Dec. 20

* Moody's assigned Permanent TSB Group Holdings Plc a Caa1 long-term issuer rating with a positive outlook. The agency also assigned a "low" government support probability to the issuer rating of Permanent TSB Group Holdings.

* Moody's affirmed the long-term local- and foreign-currency deposit ratings of Russia's Vozrozhdenie Bank at B1 and changed the outlook to stable from negative. The rating agency also affirmed various other ratings of the bank. Meanwhile, the agency upgraded the long-term local- and foreign-currency deposit ratings of fellow Russian lender PAO Absolut Bank-owned PJSC Baltic Investment Bank to Caa1 from Caa3 and affirmed its short-term local- and foreign-currency deposit ratings at Not-Prime. It also upgraded the bank's baseline credit assessment and counterparty risk assessment.

* DBRS confirmed Novo Banco SA's senior long-term debt and deposits rating at CCC (high) and changed the trend to stable from negative. The rating agency also confirmed the Portuguese bank's long- and short-term critical obligations ratings at BB (low)/R-4 and revised the trend on the long-term rating to stable from negative. The lender's short-term rating was confirmed at R-5 with a stable trend.

* Fitch changed the outlook on PJSC BANK URALSIB's B long-term issuer default rating to stable from negative. The agency affirmed the bank's long-term issuer default rating at B.

* Fitch downgraded PAO KB Privatbank's viability rating to "f" from "ccc". At the same time, the agency placed the bank's BB(ukr) national long-term rating, C short-term foreign-currency issuer default rating and CCC long-term local- and foreign-currency issuer default ratings on Rating Watch Evolving. Fitch affirmed the Ukrainian lender's support rating and support rating floor at 5 and No Floor, respectively.

* S&P revised its outlook on SID - Slovenska izvozna in razvojna banka d.d. to positive from stable, following a similar action on Slovenia. At the same time, S&P affirmed the bank's A/A-1 long- and short-term issuer credit ratings.

* Fitch downgraded TsesnaBank JSC's long-term issuer default rating to B from B+ and its viability rating to "b" from "b+".

* S&P affirmed UniCredit SpA's BBB-/A-3 long- and short-term counterparty credit ratings, keeping the outlook stable.

* S&P affirmed CNP Assurances SA's financial strength and counterparty credit ratings at A, with a stable outlook.

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