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MEA ratings roundup through Oct. 16

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MEA ratings roundup through Oct. 16

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

Oct. 16

* Fitch Ratings upgraded the viability ratings of Warba Bank KSCP to "bb-" from "b+" and Boubyan Bank K.S.C.P. to "bbb-" from "bb+", as well as the viability ratings of Gulf Bank K.S.C.P. and Kuwait Finance House K.S.C.P. to "bb+" from "bb". The four Kuwaiti lenders' A+/F1 long- and short-term issuer default ratings, 1 support ratings and A+ support rating floors were affirmed. Fitch, meanwhile, downgraded the viability rating of National Bank of Kuwait S.A.K.P. to "a-" from "a" and affirmed its AA-/F1+ long- and short-term issuer default ratings, 1 support rating and AA- support rating floor.

* Fitch also affirmed the A+/F1 long- and short-term issuer default ratings, 1 support ratings and A+ support rating floors of Al Ahli Bank of Kuwait K.S.C.P., Industrial Bank of Kuwait KSC, Commercial Bank of Kuwait K.P.S.C., Burgan Bank KPSC and Kuwait International Bank KSCP. Also affirmed were the "bb+" viability ratings of Al Ahli Bank and Industrial Bank, the "bb" viability ratings of Commercial Bank and Burgan Bank and the "bb-" viability rating of Kuwait International Bank.

Oct. 13

* Fitch lowered Gabon's long-term foreign-currency issuer default rating to B from B+, with a negative outlook.

* S&P Global Ratings affirmed Cameroon's B long-term and B short-term sovereign credit ratings, with a stable outlook.

Oct. 12

* Fitch affirmed the B/B long- and short-term issuer default ratings, "b" viability rating, 4 support rating, B support rating floor and AA(egy)/F1+(egy) national long- and short-term ratings of National Bank of Egypt (SAE).

* Fitch affirmed the 4 support rating and AA+(egy)/F1+(egy) national long- and short-term ratings of Crédit Agricole SA unit Credit Agricole - Egypt Bank (SAE).

* Fitch also affirmed the B/B long- and short-term issuer default ratings, "b" viability rating, 4 support rating, B support rating floor and AA(egy)/F1+(egy) national long- and short-term ratings of Commercial International Bank (Egypt) SAE.

Oct. 11

* Fitch affirmed the BBB- long-term issuer default rating and F3 short-term issuer default rating of African Export-Import Bank, with a negative outlook.

* Capital Intelligence Ratings affirmed the A- financial strength rating of Emirates NBD Bank PJSC.

Oct. 10

* Moody's affirmed the Baa2/Prime-2 long- and short-term local- and foreign-currency deposit ratings, "ba3" baseline credit assessment and Baa1(cr)/Prime-2(cr) counterparty risk assessments of Warba Bank KSCP, with a stable outlook on the long-term deposit ratings.

* Fitch affirmed the BBB- long-term foreign-currency issuer default rating of Morocco, with a stable outlook.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.