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EMEA ratings roundup, Jan. 17


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EMEA ratings roundup, Jan. 17

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


* Fitch Ratings downgraded the long-term issuer default rating of Italian lender Banca Carige SpA to CCC from CCC+ and placed the rating on Rating Watch Evolving. The rating agency also lowered the bank's viability rating to "f" from "ccc+" and its long-term senior unsecured debt ratings to CC from CCC+. Meanwhile, Fitch affirmed Carige's short-term issuer default and senior unsecured ratings at C, its support rating at 5 and support rating floor at No Floor.

* Fitch affirmed Spain-based Instituto de Crédito Oficial's A-/F1 long- and short-term issuer default ratings, with a stable outlook on the long-term rating. The rating agency also affirmed ICO's long-term senior debt rating at A-, support rating at 1 and support rating floor at A-.

* Fitch affirmed the long- and short-term foreign- and local-currency issuer default ratings of Uzbekistan-based Joint-Stock Innovation Commercial Bank Ipak Yuli and Private Joint Stock Bank Trustbank at B/B and those of JSCB Universal bank at B-/B, with stable outlooks on the long-term ratings. The three lenders' support ratings and support rating floors were affirmed at 5 and No Floor, respectively. At the same time, the agency affirmed the viability ratings of Ipak Yuli Bank and Trustbank at "b" and that of Universal Bank at "b-."

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