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.
* S&P Global Ratings revised the outlook on Polish debt collector GetBack SA to positive from stable and affirmed its B/B long- and short-term issuer credit ratings, based on the view that the company's expansion, along with revenue and EBITDA growth, will continue in the period between 2018 and 2019, supporting leverage metrics commensurate with a higher rating.
* Fitch Ratings upgraded Volksbanken-Verbund's long- and short-term issuer default ratings to BBB/F2 from BBB-/F3, with a stable outlook on the long-term rating. The agency also upgraded the Austrian bank's viability rating to "bbb" from "bbb-" and affirmed its support rating of 5 and support rating floor of No Floor. The agency also upgraded the long- and short-term issuer default ratings of VB-Verbund's member banks to BBB/F2 from BBB-/F3 and revised their outlooks to stable from positive.
* Fitch affirmed Erste Group Bank AG's A-/F1 long- and short-term issuer default ratings, "a-" viability rating, 5 support rating, No Floor support rating floor and A-(dcr) derivative counterparty rating.
* Moody's assigned first-time Aaa long-term local- and foreign-currency issuer ratings to Zürcher Kantonalbank, with a stable outlook. The agency said the assigned issuer ratings are based on the guarantee provided by the canton of Zurich, which owns 100% of the lender.
* DBRS confirmed Belgium's long-term foreign- and local-currency issuer ratings at AA(high) and short-term local- and foreign-currency issuer ratings at R-1 (high). The trend on all ratings is stable.
* DBRS confirmed Ireland's long-term foreign- and local-currency issuer ratings at A (high), and short-term foreign- and local-currency issuer ratings at R-1 (middle). The trend on all ratings is stable.
* Fitch upgraded its long-term foreign-currency issuer default rating on Greece to B from B-, with a positive outlook, on expectations that the country's general government debt sustainability will improve.
* S&P withdrew JSC Capital Bank Kazakhstan's CCC+/C long- and short-term counterparty credit ratings and its kzB- long-term Kazakhstan national scale rating. At the time of withdrawal, at the company's request, the long-term ratings were on CreditWatch with negative implications.
* S&P withdrew the BBB- foreign- and local-currency sovereign credit ratings of the Magyar Nemzeti Bank at the request of the Hungarian central bank. The outlook on the ratings at the time of withdrawal was positive. Meanwhile, S&P affirmed Hungary's BBB-/A-3 long- and short-term foreign- and local-currency sovereign credit ratings, with the outlook remaining positive.
* Fitch affirmed Lithuania's A- long-term foreign- and local-currency issuer default ratings, F1 short-term foreign- and local-currency issuer default ratings and AAA country ceiling. The outlook on the long-term ratings is stable.
* Fitch affirmed Andorra's long- and short-term foreign-currency issuer default ratings at BBB/F3 and its country ceiling at A-. The outlook on the long-term foreign-currency issuer default rating is stable.
* Moody's affirmed Bosnia and Herzegovina's B3 long-term issuer ratings with a stable outlook.
* Moody's affirmed Intesa Sanpaolo SpA's Baa1(cr)/ P-2(cr) long- and short-term counterparty risk assessment and A3/P2 long- and short-term bank deposit ratings, with a negative outlook on the long-term rating. Also affirmed were the lender's "baa3" baseline and adjusted baseline credit assessments.
The agency also affirmed the long- and short-term counterparty risk assessments of Banca IMI SpA, Intesa Sanpaolo S.p.A. Hong Kong Branch and Intesa Sanpaolo SpA, London Branch at Baa1(cr)/P-2(cr).
* Fitch affirmed PJSC Moscow Exchange MICEX-RTS unit Central Counterparty National Clearing Center's long-term foreign- and local-currency issuer default ratings at BBB-/BBB, with the respective outlooks being positive and stable. Also affirmed was the short-term foreign-currency issuer default rating at F3, support rating at 2, support rating floor at BBB- and the viability rating at "bbb".
* Moody's upgraded Public Stock Co. Orient Express Bank's long-term bank deposit and senior unsecured debt ratings to B3 from Caa1, with stable outlooks. The rating agency also upgraded the Russian lender's baseline and adjusted baseline credit assessments to "b3" from "caa1" and its long-term counterparty risk assessment to B2(cr) from B3(cr), and affirmed its short-term bank deposit rating at Not Prime and short-term counterparty risk assessment at Not Prime(cr).
* Moody's assigned a definitive B2 corporate family rating and first time B2-PD probability of default rating to Evergood 4 Aps, the new majority shareholder of Danish payments provider Nets A/S through unit Evergood 5 AS. The outlook is stable. The rating agency withdrew Nets A/S' Ba2 corporate family rating and Ba2-PD probability of default rating.
* S&P downgraded JSC Qazaq Banki's long- and short-term issuer credit ratings to CCC+/C from B-/B and placed the long-term rating on CreditWatch with negative implications. The agency also lowered the bank's national scale rating to "kzB-" from "kzB+" and placed it on CreditWatch with negative implications.
* Moody's affirmed Siemens AG unit Siemens Bank GmbH's long- and short-term local- and foreign currency ratings at A1/P-1. The outlook on the ratings remains stable.
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