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European ratings roundup through Dec. 18

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. 18

* Moody's affirmed the long-term local- and foreign-currency issuer ratings of London Stock Exchange Group Plc and London Stock Exchange Plc at A3, with stable outlooks. The agency also affirmed LSE Group's A3 long-term local- and foreign-currency senior unsecured debt ratings, with a stable outlook.

* Fitch Ratings affirmed Groupe BPCE's A/F1 long- and short-term issuer default ratings and its "a" viability rating, and revised the outlook on the French banking group to positive from stable. Meanwhile, the agency withdrew the ratings of Banque Populaire Grand Ouest and affirmed the A(dcr) derivative counterparty ratings of Groupe BPCE units BPCE SA and Natixis.

* Moody's withdrew Generali unit Generali Lebensversicherung AG's A3 insurance financial strength rating, citing its own business reasons. The outlook on the rating was negative at the time of withdrawal.

* Fitch upgraded JSC Basisbank's long-term foreign-currency issuer default rating to B+ from B, with a stable outlook, and its viability rating to "b+" from "b". The agency also affirmed the long-term foreign-currency issuer default rating of JSC Cartu Bank at B+ and that of JSC Halyk Savings Bank of Kazakhstan unit JSC Halyk Bank Georgia at BB-. The outlook on the long-term rating of Halyk Bank Georgia remained stable, while that of Cartu Bank was revised to negative from stable. Cartu Bank's viability rating was affirmed at "b+".

Dec. 16

* DBRS confirmed the long- and short-term foreign- and local-currency issuer ratings of the U.K. and Germany at AAA/R-1 (high) and those of Latvia at A (low)/R-1 (low), with a stable trend on all ratings.

Dec. 15

* Fitch raised Portugal's long-term foreign- and local-currency issuer default ratings to BBB from BB+ and those of Ireland to A+ from A, with stable outlooks. Fitch noted that there was an expected decline in Portugal's gross general government debt and cited an improving state of the Irish banking sector and falling government and household debt.

* S&P upgraded Serbia's long-term foreign and local currency sovereign credit ratings to BB from BB- with a stable outlook, and affirmed its B short-term foreign and local currency sovereign credit ratings. Fitch, meanwhile, upgraded Serbia's long-term foreign- and local-currency issuer default ratings to BB from BB-, with a stable outlook, and affirmed the short-term ratings at B.

* S&P affirmed Slovenia's long- and short-term foreign- and local-currency sovereign credit ratings at A+/A-1, with a stable outlook.

* Fitch affirmed Intesa Sanpaolo SpA's and unit Banca IMI SpA's long- and short-term issuer default ratings at BBB/F2, with a stable outlook on the long-term ratings. Intesa Sanpaolo's "bbb" viability rating, 5 support rating and No Floor support rating floor were affirmed, among other ratings. The agency assigned a BBB(dcr) derivative counterparty rating to Banca IMI and affirmed the rating for Intesa Sanpaolo.

* A.M. Best affirmed the A (Excellent) financial strength rating and the "a" long-term issuer credit rating of Ireland-based Beazley Insurance dac and the U.S.-based Beazley Insurance Co. Inc., with a stable outlook. Both companies are owned by specialist insurer Beazley Plc.

* S&P affirmed the long- and short-term counterparty credit ratings of Kazakhstan-based Eurasian Bank JSC at B/B and those of JSC KDB Bank Uzbekistan at B+/B. The outlook on Eurasian Bank is negative, while that on KDB Bank Uzbekistan is stable. The agency also affirmed Eurasian Bank's long-term Kazakhstan national scale rating at kzBB.

* Fitch affirmed Íslandsbanki hf.'s long- and short-term issuer default ratings at BBB/F3, with a stable outlook on the long-term rating, and its viability rating at "bbb." The agency affirmed the bank's support rating of 5, support rating floor of No Floor and the long- and short-term senior unsecured debt ratings at BBB/F3.

* Fitch affirmed SACE SpA's long-term issuer default rating at BBB+, with a stable outlook, and affirmed its short-term foreign-currency issuer default rating at F2.

* Fitch affirmed the long- and short-term issuer default ratings of UniCredit SpA at BBB/F2, with a stable outlook on the long-term rating, and its "bbb" viability rating, 5 support rating and the No Floor support rating floor. The bank's F2 senior unsecured debt was also affirmed. The agency also affirmed the long- and short-term issuer default ratings of UniCredit Bank AG at BBB+/F2, with a negative outlook on the long-term rating, and its "bbb+" viability rating, BBB+/F2 long- and short-term deposit ratings and 3 support rating. Additionally, Fitch affirmed the BBB senior unsecured debt of UniCredit International Bank (Luxembourg) SA and UniCredit Bank Ireland Plc.

* Meanwhile, Fitch affirmed several ratings of UniCredit Bank Austria AG and simultaneously withdrew them for commercial reasons.

* Fitch revised the outlook on Armenia's long-term foreign- and local-currency issuer default ratings to positive from stable, while affirming the ratings at B+.

* Moody's downgraded the long-term foreign-currency senior unsecured debt and long-term local-currency deposit ratings of Türkiye Halk Bankasi AS to Ba2 from Ba1. The outlook was maintained at negative. The agency also downgraded the bank's baseline and adjusted baseline credit assessments to "b1" from "ba2" and affirmed its long-term foreign-currency deposit rating at Ba2 and the long- and short-term counterparty risk assessments at Ba1(cr)/NP(cr).

* DBRS confirmed the BBB (low)/R-2 (middle) long- and short-term issuer ratings of Banco BPM SpA and unit Banca Akros SpA and revised the trend on the ratings to negative from stable. The rating agency also revised the trend on both institutions' BBB (low)/R-2 (middle) long- and short-term deposit ratings, BBB (low) long-term senior debt ratings, R-2 (middle) short-term debt ratings to negative.

* S&P downgraded the long- and short-term issuer credit ratings of DVB Bank SE to BBB/A-2 from A+/A-1, with a negative outlook.

Dec. 14

* Fitch affirmed Crédit Agricole SA's long- and short-term issuer default ratings at A+/F1, its viability rating at "a+," with a stable outlook on the long-term rating. The agency also affirmed the ratings of Credit Agricole S.A. (CA S.A.), Credit Agricole CIB, CA Consumer Finance and Credit Agricole Leasing & Factoring.

* Moody's said that the outlook for the Nordic banks is stable, citing the industry's solid economic and credit growth. The outlook for banks in central and eastern Europe is also stable amid strong economic growth, which increases demand for lending and supports asset quality.

* A.M. Best affirmed JSC Kazkommertsbank unit JSC Insurance Co. Kazkommerts-Policy's C++ (Marginal) financial strength rating and its "b+" long-term issuer credit rating. JSC Halyk Savings Bank of Kazakhstan is the ultimate parent of both companies.

* Moody's changed the outlook on Encore Capital Group Inc. unit Cabot Financial Ltd., Cabot Financial (Luxembourg) II SA and Cabot Financial (Luxembourg) SA to positive from rating under review. At the same time, the agency confirmed the B2 long-term corporate family rating of Cabot Financial Ltd. as well as the senior secured bond ratings of Cabot Financial (Luxembourg) II SA and Cabot Financial (Luxembourg) SA at B2.

* Fitch upgraded PJSC Bank Uralsib's long-term foreign-currency issuer default rating to B+ from B and its viability rating to "b+" from "b". Bank Uralsib's B short-term foreign-currency issuer default rating, 5 support rating and No Floor support rating floor were affirmed.

* Fitch placed on Rating Watch Evolving the "ccc" viability ratings of National Bank of Greece SA, Alpha Bank AE, Piraeus Bank SA and Eurobank Ergasias SA.

* Moody's downgraded Getin Noble Bank SA's long-term local and foreign-currency deposit ratings to Ba3 from Ba2 and affirmed its Not Prime short-term deposit ratings, with the outlook on the long-term deposit ratings unchanged at negative.

* S&P affirmed International bank of Saint-Petersburg (JSC)'s long- and short-term issuer credit ratings at B-/B, with a negative outlook. The agency removed the ratings from CreditWatch with negative implications.

Dec. 13

* Fitch affirmed Sparkassen-Finanzgruppe's long- and short-term issuer default ratings at A+/F1+, with a stable outlook on the long-term rating. The agency also affirmed the company's "a+" viability rating, 5 support rating and No Floor support rating floor. The agency also affirmed the A+/F1+ long- and short-term issuer default ratings for 337 German saving banks, with stable outlooks.

* Fitch affirmed S - Finanzgruppe Hessen-Thüringen's long-term issuer default rating at A+, with a stable outlook, and its viability rating at "a+." Fitch also affirmed the AA-(dcr) derivative counterparty ratings of Landesbank Hessen-Thüringen Girozentrale, the central institution of S - Finanzgruppe Hessen-Thüringen. The agency also affirmed the AA-/F1+ long- and short-term deposit ratings of Helaba and other member banks of the group.

* Fitch affirmed Genossenschaftliche FinanzGruppe's and central institution DZ Bank AG's long- and short-term issuer default rating at AA-/F1+, with a stable outlook on the long-term ratings. Genossenschaftliche FinanzGruppe's viability rating of "aa-" was also affirmed. Fitch also affirmed the AA- long-term issuer default ratings of the 940 other bank members of Genossenschaftliche FinanzGruppe's mutual support scheme, with a stable outlook.

* Moody's affirmed Euler Hermes Group SA unit Euler Hermes? SA (NV)'s insurance financial strength ratings at Aa3/P-1.

* Moody's affirmed Banca Carige SpA's B3 long-term bank deposit rating and Caa2 long-term issuer rating and revised the outlook on both ratings to negative and stable, respectively, from developing.

* A.M. Best revised to positive from stable the outlook on long-term issuer credit rating of Generali and its main units, while affirming it at "a". Also affirmed were the financial strength ratings of A (Excellent) for the group and its units.

* Moody's placed on review for upgrade the A3 insurance financial strength ratings of Atradius NV units Atradius Credito y Caucion SA, Atradius Reinsurance Designated Activity Co. and Atradius Trade Credit Insurance Inc. The agency also placed Atradius Credito y Caucion's P-2 short-term insurance financial strength rating on review for upgrade.

* Moody's changed the outlook on Storebrand ASA and unit Storebrand Livsforsikring AS to positive from stable. At the same time, the agency affirmed Storebrand's Ba1 long-term issuer and senior unsecured debt ratings and Storebrand Livsforsikring's Baa1 insurance financial strength rating.

Dec. 12

* S&P affirmed Irish National Asset Management Agency's A+/A-1 long- and short-term foreign- and local-currency issuer credit ratings, with a stable outlook.

* DBRS confirmed Banco Cooperativo Español SA's long- and short-term issuer ratings at BBB/R-2 (high), with a stable trend. Simultaneously, the agency confirmed the bank's BBB intrinsic assessment and support assessment of SA3.

* S&P affirmed DEPFA Bank Plc's and unit DEPFA ACS Bank DAC's long- and short-term counterparty credit ratings at A-/A-2, with a stable outlook. The agency affirmed DEPFA Bank's senior unsecured debt at A-.

* Moody's assigned Russia-based Vnesheconombank "b3" baseline and adjusted baseline credit assessments and affirmed the bank's long- and short-term issuer ratings at Ba1/NP, with a stable outlook on the long-term rating.

* Moody's affirmed the senior unsecured debt ratings of 22 German banks and changed the outlooks on 16 of these ratings to negative, following the agreement to an amendment to the EU's Bank Recovery and Resolution Directive.

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