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EMEA ratings roundup, Oct. 8

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EMEA ratings roundup, Oct. 8

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

EUROPE

* DBRS upgraded Portuguese bank Caixa Geral de Depósitos SA's long- and short-term deposit ratings to BBB (high)/R-1 (low), following the upgrade of Portugal's long- and short-term issuer ratings. The trends on all the ratings are stable. The agency also upgraded CGD France Branch's long- and short-term deposit ratings to BBB (high)/R-1 (low), with stable trends on the ratings.

* Fitch Ratings published Italian asset manager Anima Holding SpA's BBB/F3 long- and short-term issuer default ratings, with a negative outlook on the long-term rating.

* Moody's changed the outlooks on Deutsche Bahn AG and its financing company Deutsche Bahn Finance GmbH to negative from stable. The agency affirmed Deutsche Bahn Finance's Aa1 backed senior unsecured regular debt rating. The negative outlook reflects the agency's expectation that Deutsche Bahn's leverage will increase to around 7.0x in fiscal 2019 and the challenge that the company faces in shrinking its gross debt level and in reducing its leverage towards the 5.5x level.

* Meanwhile, S&P Global Ratings upgraded Deutsche Bahn's long- and short-term issuer credit ratings to AA/A-1+ from AA-/A-1+, with a stable outlook on the long-term rating. The agency upgraded Deutsche Bahn Finance's senior unsecured debt rating to AA from AA-.

* DBRS confirmed Danske Bank A/S' long- and short-term issuer and deposit ratings at A/R-1 (low). The agency also confirmed the Danish bank's A long-term senior debt rating, R-1 (low) short-term debt rating and AA (low)/R-1 (middle) long- and short-term critical obligations ratings. The trends on all the long-term ratings are negative, while all short-term ratings carry stable trends.

DBRS also confirmed Danske Mortgage Bank PLC's A (low)/R-1 (low) long- and short-term issuer ratings, with a negative trend on the long-term rating and a stable trend on the short-term rating.

MIDDLE EAST

* Capital Intelligence Ratings affirmed Emirates NBD Bank PJSC's long- and short-term foreign currency ratings at A+/A1.

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This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.