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European ratings roundup through Nov. 27

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European ratings roundup through Nov. 27

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.

Nov. 27

* S&P Global Ratings upgraded Switzerland-based Migros Bank AG's long- and short-term counterparty credit ratings to A/A-1 from A-/A-2, with a stable outlook.

* A.M. Best has placed under review with negative implications the financial strength rating of A (Excellent) and the long-term issuer credit rating of "a" of Sirius International Insurance Corp.

* DBRS downgraded Unione di Banche Italiane SpA's long- and short-term issuer ratings to BBB/R-2 (high) from BBB (high)/R-1 (low), among other ratings actions on the Italian lender.

* Fitch Ratings maintained its negative outlook on the London insurance market sector.

* Fitch affirmed the BB- long-term issuer default rating of Credit Europe Bank Ltd., with a stable outlook. The bank's B short-term issuer default rating and "bb-" viability rating were also affirmed while its 4 support rating was maintained on Rating Watch Negative.

* Fitch affirmed the A-/F2 long- and short-term issuer default ratings of KAS BANK NV, with a stable outlook on the long-term rating. The agency also affirmed the bank's "a-" viability rating, 5 support rating and No Floor support rating floor.

* S&P affirmed the BBB+/A-2 long- and short-term issuer credit ratings of Danmarks Skibskredit Holding AS unit Danmarks Skibskredit A/S, with a negative outlook on the long-term rating.

Nov. 24

* Fitch placed U.K.-based Old Mutual Plc's BBB/F3 long- and short-term issuer default ratings on Rating Watch Negative.

* S&P affirmed the BB-/B long- and short-term counterparty credit ratings of Interregional Bank for Settlements of the Telecommunications & Postal Services, also known as Sviaz-Bank, and withdrew the ratings at the lender's request. The outlook was negative at the time of the ratings' withdrawal.

* Fitch upgraded Volksbank NV's long-term issuer default rating to A- from BBB+, with a stable outlook, and affirmed the short-term rating at F2, among other ratings of the Netherlands-based bank.

* S&P revised the outlook on Swedbank AB (publ), SBAB Bank AB (publ), Landshypotek Bank AB, Swedbank Sjuhärad AB (publ) and Sparbanken Skåne AB (publ) to stable from negative and affirmed some of their ratings.

* S&P affirmed the AA/A-1+ issuer credit ratings of Deutsche Börse AG and unit Clearstream Banking SA, with a stable outlook on both the entities.

* S&P affirmed the AA- issuer credit and financial strength ratings of Swiss Re AG unit Swiss Reinsurance Co. Ltd. and its core operating entities, with a stable outlook on all the long-term ratings. The holding company's counterparty credit rating was affirmed at A with a stable outlook.

* Fitch affirmed the A+ long-term issuer default rating of ING Groep NV unit ING Bank NV, with a stable outlook, as well as its F1 short-term issuer default rating, "a+" viability rating, 5 support rating and No Floor support rating floor. The group's ratings are aligned with those of ING Bank, its main operating entity.

* Fitch affirmed the A+ long-term issuer default rating of ABN AMRO Group NV, with a stable outlook. The agency also affirmed the group's F1 short-term issuer default rating, "a" viability rating, 5 support rating and No Floor support rating floor.

* Fitch affirmed the AA- long-term issuer default rating of Rabobank, with a stable outlook. The agency also affirmed the bank's F1+ short-term issuer default rating, "a+" viability rating, 5 support rating and No Floor support rating floor.

Nov. 23

* Fitch upgraded the long- and short-term issuer default ratings of Allied Irish Banks Plc and units EBS DAC and AIB Group (UK) Plc to BBB-/F3 from BB+/B, among other ratings actions.

* Fitch also took actions on the ratings of Bank of Ireland Group Plc and Bank of Ireland, including upgrading their long- and short-term default ratings to BBB/F2 from BBB-/F3, as well as their viability ratings to "bbb" from "bbb-". The agency also upgraded Bank of Ireland (UK) Plc's long-term issuer default rating to BBB from BBB- and its viability rating to "bbb" from "bbb-".

* S&P revised the outlook on Erste Group Bank AG unit Ceská sporitelna a.s. to positive from negative and affirmed its long-and short-term issuer credit ratings at A/A-1.

* Fitch affirmed the A+ long-term issuer default rating and AA- insurer financial strength rating of Lloyds Banking Group Plc unit Scottish Widows Ltd., with stable outlooks.

* Fitch affirmed the BBB (Good) insurer financial strength rating and BBB long-term issuer default rating of Poste Vita SpA, with stable outlooks.

* S&P affirmed Norway-based Eksportfinans ASA's long- and short-term issuer credit ratings at BBB+/A-2 and revised the outlook to positive from stable.

Nov. 22

* Fitch assigned Vakif Katilim Bankasi AS long-term foreign- and local-currency issuer default ratings of BB+/BBB-, with a stable outlook. The agency also assigned the Turkish lender B/F3 short-term foreign- and local-currency issuer default ratings, AAA(tur) long-term national rating with a stable outlook, "b+" viability rating, 3 support rating and BB+ support rating floor.

* Moody's said the outlook on the Swiss banking system remains stable.

* S&P assigned Direct Line Insurance Group Plc a BBB+ issuer credit rating, with a stable outlook.

* Moody's affirmed the Aa3/P-1 deposit ratings, "a2" baseline and adjusted baseline credit assessments and A2(cr)/P-1(cr) counterparty risk assessments of Bank Vontobel AG and A3 issuer ratings of Vontobel Holding AG, with a stable outlook on the long-term ratings of both issuers.

* Moody's said that the outlook on the European insurance is stable.

Nov. 21

* Fitch withdrew the ratings of 42 German cooperative banks that merged in 2017 with other members of the Genossenschaftliche FinanzGruppe.

* Fitch upgraded OJSC International Bank of Azerbaijan's long- and short-term issuer default ratings to B-/B from RD/RD, with a stable outlook on the long-term rating. The agency also upgraded the Azeri lender's viability rating to "ccc" from "f," while the bank's support rating and support rating floor were affirmed at 5 and No Floor, respectively.

* S&P upgraded U.K.-based specialist lender Together Financial Services Ltd.'s long-term issuer credit rating to BB- from B+ and parent Bracken Midco1 Plc1's long-term issuer credit rating to B+ from B. The outlooks on both entities are stable.

* A.M. Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit ratings of "a" of Lancashire Insurance Co. (UK) Ltd., as well as the long-term issuer credit rating of "bbb" and the long-term issue credit ratings of the parent company Lancashire Holdings Ltd. The outlook for each of these credit ratings remains stable.

* S&P affirmed the A- issuer credit rating of Länsförsäkringar AB (publ), A financial strength and issuer credit ratings of Länsförsäkringar Sak Försäkrings AB (publ) and A issuer credit rating of Länsförsäkringar Bank AB (publ), with a stable outlook on all the entities.

* S&P maintained the B long-term issuer credit rating of B&N Bank on CreditWatch with developing implications and affirmed the bank's B short-term issuer credit rating.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.