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EMEA ratings roundup, Oct. 16

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EMEA ratings roundup, Oct. 16

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

EUROPE

* Fitch Ratings published Crédit Mutuel Arkéa SACC's A-/F2 long- and short-term issuer default ratings, with a stable outlook on the long-term rating. The rating agency also published the French lender's "a-" viability rating, 5 support rating and No Floor support rating floor, and assigned A-/F2 long- and short-term issuer default ratings to Crédit Mutuel Arkéa SACCV, the central institution and sole debt issuer of the bank.

* Moody's took various actions on Portuguese lenders Caixa Geral de Depósitos SA, Millennium BCP, Banco Santander Totta SA, Banco BPI SA, Caixa Económica Montepio Geral caixa económica bancária SA and Novo Banco SA, following an upgrade of the sovereign. The affected ratings include the banks' long-term deposit and senior unsecured ratings, as well as their baseline and adjusted baseline credit assessments.

MIDDLE EAST

* Fitch affirmed Qatar's long- and short-term foreign- and local-currency issuer ratings at AA-/F1+, with a stable outlook on the long-term ratings. Fitch also affirmed the country's AA country ceiling.

* Moody's upgraded Israel Discount Bank Ltd.'s long-term local- and foreign-currency bank deposit ratings to A3 from Baa1 and revised the outlook on the ratings to stable from positive. Also upgraded were the lender's baseline and adjusted baseline credit assessments to "baa3" from "ba1" and its long- and short-term counterparty risk assessments to A2(cr)/Prime-1(cr) from A3(cr)/Prime-2(cr). The bank's P-2 short-term local- and foreign-currency bank deposit ratings were affirmed.

* Moody's revised the outlook on First International Bank of Israel Ltd.'s long-term bank deposit ratings to positive from stable, while affirming the ratings at A3. The bank's short-term bank deposit ratings were affirmed at P-2, while its long- and short-term counterparty risk ratings were affirmed at A2/P-1, its baseline and adjusted baseline credit assessments at "baa3" and its long- and short-term counterparty risk assessments at A2(cr)/P-1(cr).

AFRICA
* Moody's revised its outlook on Tunisia's issuer ratings to negative from stable and affirmed the ratings at B2, citing the country's weak foreign exchange reserves position, slower pace of net capital flows and worsening trade balance.

* Moody's affirmed the long-term foreign- and local-currency bank deposit ratings of First Bank of Nigeria Ltd. at B3 and B2, respectively, and revised the outlook on the ratings to stable from negative. The rating agency also took the same actions on the Lagos-based bank's B2 long-term local- and foreign-currency issuer ratings. Also affirmed were the bank's Not Prime short-term foreign- and local-currency bank deposit and issuer ratings, "b3" baseline and adjusted baseline credit assessments, B2/Not Prime long- and short-term counterparty risk ratings and B2(cr)/Not Prime(cr) long- and short-term counterparty risk assessments.

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