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.
* S&P Global Ratings affirmed the foreign- and local-currency long- and short-term sovereign credit ratings of Senegal at B+/B, keeping the outlook stable.
* S&P affirmed the B/B long- and short-term foreign- and local-currency sovereign credit ratings of Uganda, with the outlook kept stable.
* CI Ratings downgraded the long-term foreign- and local-currency ratings on Saudi Arabia to A+ from AA- and its short-term foreign- and local-currency ratings to A1 from A1+, and revised the outlook to stable from negative.
* Fitch Ratings downgraded the long-term foreign-currency issuer default ratings of a number of Oman-based banks, primarily reflecting a change in the agency's assessment of the country's ability to support domestic lenders. The long-term foreign-currency issuer default ratings of Bank Dhofar SAOG, National Bank of Oman SAOG, Ahli Bank SAOG and Bank Sohar SAOG were downgraded to BBB- from BBB, while that of Bank Muscat SAOG was lowered to BBB from BBB+. Ahli Bank's long-term local-currency issuer default rating was also downgraded to BBB- from BBB. HSBC Holdings Plc-owned HSBC Bank Oman SAOG's long-term foreign-currency issuer default rating was downgraded to A- from A. The outlook on all six Omani banks is stable.
* CI Ratings upgraded the financial strength rating of Société Tunisienne de Banque to B+ from B.
* S&P affirmed the BBB+ long-term counterparty credit and insurer financial strength ratings of Al Wathba National Insurance Co. PJSC with a stable outlook.
* CI Ratings affirmed the long- and short-term foreign-currency ratings at BB- and B respectively on Jordan Islamic Bank, with the outlook kept stable. Jordan Islamic Bank is owned by Al Baraka Banking Group B.S.C.
* The corporate ratings on the Oman national scale of omBBB long-term and omA3 short-term on Muscat Finance (SAOG) were affirmed by CI Ratings.
* CI Ratings affirmed the ratings of Banque de Tunisie SA.
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