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European ratings roundup through Oct. 9

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European ratings roundup through Oct. 9

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.

Oct. 9

* S&P Global Ratings affirmed JSC Development Capital Bank's long- and short-term counterparty credit ratings at B-/B and subsequently withdrew the ratings at the company's request.

* Moody's withdrew the A3/P-2 long- and short-term state-guaranteed deposit ratings of Hypo Tirol Bank AG and Hypo Vorarlberg Bank AG.

* Fitch Ratings upgraded the viability rating of Erste Group Bank AG unit Banca Comerciala Româna SA to "bb+" from "bb" while affirming the long- and short-term foreign-currency issuer default rating at BBB+/F2. The rating agency also affirmed the long- and short-term foreign-currency issuer default ratings of Société Générale SA unit BRD-Groupe Société Générale SA at BBB+/F2, UniCredit SpA unit UniCredit Bank SA at BBB-/F3 and Banca Transilvania SA at BB/B.

* Fitch placed the A long-term issuer default rating, A derivative counterparty rating and A senior unsecured debt long-term rating of Santander UK Plc and subsidiary Abbey National Treasury Services Plc on rating watch positive.

* Fitch downgraded the support ratings of SpareBank 1 Nord-Norge, SpareBank 1 SMN, SpareBank 1 SR-Bank ASA to 5 from 3 and revised their support rating floors to No Floor from BB+. The agency also affirmed the A-/F2 long- and short-term issuer default ratings of SpareBank 1 SMN, SpareBank 1 SR-Bank and Sparebank 1 Boligkreditt AS. These ratings were affirmed at A/F1 and BBB/F3 for SpareBank 1 Nord-Norge and Sandnes Sparebank, respectively.

* DBRS assigned Lloyds Banking Group Plc a R-1 (low) short-term debt rating and confirmed the long- and short-term issuer ratings at A/R-1 (low). The agency confirmed the long-term issuer ratings and long-term senior debt of Lloyds Bank Plc, HBOS Plc and Bank of Scotland Plc at A (high).

Oct. 6

* S&P affirmed France's unsolicited long- and short-term sovereign credit ratings at AA/A-1+.

* S&P upgraded Belarus' long-term sovereign credit ratings to B from B-. The agency also affirmed Romania's long- and short-term sovereign credit ratings at BBB-/A-3.

* S&P upgraded Montenegro's outlook to stable from negative and affirmed the country's B+/B long- and short-term sovereign credit ratings.

* S&P affirmed CaixaBank SA's long- and short-term counterparty credit ratings at BBB/A-2. The bank's senior unsecured rating was affirmed at BBB.

* Moody's affirmed Italy's long-term issuer ratings and senior unsecured debt at Baa2, with the outlook remaining negative.

* Moody's upgraded Novo Banco SA's baseline and adjusted baseline credit assessments to "caa2" from "ca." The agency also extended the review for downgrade on the bank's Caa1 long-term deposit rating and confirmed its B3(cr) long-term counterparty risk assessment. The agency also confirmed the bank's Caa2 long-term senior unsecured debt rating and changed the outlook to positive from rating under review.

* Fitch downgraded Banca Carige SpA's viability rating to "c" from "cc" and maintained the bank's B-/B long- and short-term issuer default ratings on Rating Watch with negative implications.

* DBRS confirmed the long-and short-term issuer ratings of Austria and Spain at AAA/R-1 (high) and A (low)/R-1 (low), respectively.

* A.M. Best downgraded Generali Lebensversicherung AG's financial strength rating to A- (Excellent) from A (Excellent) and long-term issuer credit rating to "a-" from "a" and placed the ratings under review with negative implications.

Oct. 5

* S&P assigned Royal Bank of Scotland Group Plc unit Adam & Co. Plc preliminary long- and short-term issuer credit ratings of BBB+/A-2, with a stable outlook.

* S&P placed International Bank of Saint-Petersburg (JSC)'s B-/B long- and short-term counterparty credit ratings on CreditWatch with negative implications.

* Moody's upgraded BNP Paribas Personal Finance SA's long-term deposit and issuer ratings to Aa3 from A1 and affirmed the bank's short-term deposit and issuer ratings at Prime-1 and long- and short-term counterparty risk assessments at Aa3(cr)/Prime-1(cr).

* Moody's upgraded DVB Bank SE's long-term senior unsecured debt rating to Aa3 from Baa1, long-term deposit rating to Aa1 from A2, long-term counterparty risk assessment to Aa1(cr) from A2(cr) and adjusted baseline credit assessment to "a2" from "baa3." The DZ BANK AG unit's short-term deposit rating and short-term counterparty risk assessment were affirmed at Prime-1 and Prime-1(cr), respectively.

* Moody's affirmed Banco BPM SpA's long-term bank deposit ratings at Ba1, long-term counterparty risk assessment at Ba1(cr), long-term issuer rating at Ba2 and baseline and adjusted baseline credit assessments at "b1." The agency affirmed the bank's baseline and adjusted baseline credit assessments at "b1."

* Fitch affirmed JSC Eximbank Kazakhstan's long-term issuer default ratings at CCC and subsequently withdrew them, along with the bank's C short-term foreign-currency issuer default rating.

* Fitch affirmed the BB+ long-term issuer default ratings of DenizBank AS and units Deniz Finansal Kiralama AS and JSC DenizBank Moscow and revised the outlooks to positive from stable.

* S&P assigned Arial CNP Assurances, a subsidiary of La Mondiale and CNP Assurances SA, long-term local-currency counterparty credit and financial strength ratings of A-, with a stable outlook.

* Fitch upgraded Commercial Bank Russian Universal Bank LLC's long-term issuer default ratings to B+ from B and viability rating to "b+" from "b," and affirmed the lender's foreign-currency issuer default rating at B. Fitch also affirmed Expobank LLC's senior unsecured debt at B+/recovery rating RR4 and subsequently withdrew the rating.

Oct. 4

* S&P assigned an A long-term foreign-currency issuer credit rating to Standard Life Aberdeen Plc, with a stable outlook.

* Moody's upgraded Sparebanken Øst's long-term deposit and issuer ratings to A2 from A3, short-term deposit rating to P-1 from P-2, baseline and adjusted baseline credit assessments to "baa1" from "baa2" and long-term counterparty risk assessment to A1(cr) from A2(cr).

* S&P revised the outlook on Kazakhstan-based Eurasia Insurance Co. JSC to positive from stable and affirmed the insurer's BB+ long-term counterparty credit and financial strength ratings and "kzAA-" Kazakhstan national scale rating.

* Moody's downgraded Credito Valtellinese SpA's long-term bank deposit rating to Ba2 from Ba1, baseline and adjusted baseline credit assessments to "b2" from b1" and long-term counterparty risk assessment to Ba2(cr) from Ba1(cr), and placed the ratings on review for further downgrade. Moody's also affirmed Creval's Not Prime short-term bank deposit rating and Not Prime(cr) short-term counterparty risk assessment.

* Moody's downgraded Banca Nazionale del Lavoro SpA's long-term deposit rating to Baa1 from A3. The agency also downgraded the BNP Paribas SA unit's long-term senior unsecured debt and issuer ratings to Baa3 from Baa2 and revised the outlook on the ratings to negative from stable, while affirming the "ba2" baseline credit assessment, "baa2" adjusted baseline credit assessment, Prime-2 short-term deposit ratings and Baa1(cr)/Prime-2(cr) long-term and short-term counterparty risk assessments.

* Moody's downgraded PAO Promsvyazbank's baseline and adjusted baseline credit assessments to "b2" from "b1" and affirmed its long- and short-term bank deposit ratings at Ba3/NP, long- and short-term counterparty risk assessments at Ba2(cr)/NP(cr) and senior unsecured debt rating at Ba3. The rating agency also placed on review for upgrade Vozrozhdenie Bank's B1 long-term bank deposit ratings and Ba3(cr) long-term counterparty risk assessment.

* Moody's assigned long-and short-term issuer ratings of Baa3/P-3 to Kazakhstan-based JSC Baiterek National Management Holding, with a stable outlook

* Fitch affirmed the long- and short-term foreign-currency issuer default ratings of Türkiye Kalkinma Bankasi AS, Türkiye Sinai Kalkinma Bankasi AS and Türkiye Ihracat Kredi Bankasi AS at BB+/B, as well as their long- and short-term local-currency issuer default ratings at BBB-/F3 and national long-term ratings at AAA(tur). The agency also assigned Türkiye Kalkinma Bankasi a "bb" viability rating.

* Fitch affirmed the long- and short-term foreign-currency issuer default ratings of T.C. Ziraat Bankasi AS, Türkiye Halk Bankasi AS, Türkiye Vakiflar Bankasi TAO and Ziraat Katilim Bankasi AS at BB+/B. It also affirmed the four Turkish banks' long- and short-term local-currency issuer default ratings at BBB-/F3 and national long-term ratings at AAA(tur), among others.

* Fitch downgraded Generali Leben's insurer financial strength rating to BBB+ from A- and affirmed the A- insurer financial strength ratings of certain Generali subsidiaries.

Oct. 3

* S&P affirmed the preliminary long- and short-term issuer credit ratings of Lloyds Banking Group units Lloyds Bank International Ltd. and Lloyds Bank Corporate Markets Plc at A-/A-2. The outlook is negative.

* S&P revised the outlook on Zagrebacka banka dd to positive from stable and affirmed the bank's long-term counterparty credit rating at BB.

* DBRS confirmed UBS Group AG unit UBS AG's long- and short-term issuer ratings at A (high)/R-1 (middle) and revised the trend on the long-term ratings to positive. The agency also assigned UBS Group issuer and long-term senior debt ratings of A and short-term issuer rating of R-1 (low).

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