S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.
EUROPE
* Fitch Ratings revised the rating watch on Italy-based Banca Carige SpA's CCC long-term issuer default rating to positive from evolving. The rating agency also placed the lender's C short-term issuer default rating on Rating Watch Positive and affirmed its "f" viability rating, 5 support rating and Not Prime support rating floor.
* Fitch downgraded the long-term issuer default rating of U.K.-based Metro Bank PLC to BB from BB+ and its viability rating to "bb" from "bb+" and placed the viability rating on Rating Watch Negative. The long-term rating was maintained on Rating Watch Negative. Fitch also affirmed the lender's B short-term issuer default rating, 5 support rating and No Floor support rating floor.
* Fitch published the BBB+ long-term issuer default rating of U.K.-based Man Group Ltd. with a stable outlook.
* Moody's upgraded the long-term local- and foreign-currency deposit ratings of Russia-based PJSC Sovcombank to Ba2 from Ba3, with the outlook remaining stable.
* ACRA affirmed the AAA(RU) credit rating of Mitsubishi UFJ Financial Group Inc. unit AO MUFG Bank (Eurasia), with a stable outlook.
* ACRA also affirmed the BBB-(RU) credit rating of Russia-based Commercial bank Renaissance Credit LLC and revised the outlook to positive.
* ACRA assigned an A- credit rating under the international scale and an AAA(RU) credit rating under the national scale for Russia to Kazakhstan-based Eurasian Development Bank, which is owned by the Russian state.
MIDDLE EAST
* Fitch downgraded Saudi Arabia's long-term foreign-currency issuer default rating to A from A+, with a stable outlook. The move comes amid rising geopolitical tensions in the Gulf region following recent drone attacks on the country's oil infrastructure.
* Fitch affirmed the A+/F1 long- and short-term issuer default ratings of Kuwait-based Warba Bank KSCP and Kuwait International Bank KSCP, with a stable outlook on the long-term ratings. The agency also affirmed the two companies' "bb-" viability ratings, 1 support ratings and A+ support rating floors.
* Fitch affirmed the A+/F1 long- and short-term issuer default ratings of Kuwait-based Ahli United Bank KSCP, with a stable outlook on the long-term rating. The agency also affirmed the lender's "bbb-" viability rating, 1 support rating and its A+ support rating floor.
* Fitch also affirmed the AA-/F1+ long- and short-term issuer default ratings of National Bank of Kuwait SAKP and unit National Bank of Kuwait (International) PLC, with a stable outlook on the long-term ratings. The agency also affirmed the two entities' 1 support rating, and National Bank of Kuwait's "a-" viability rating, AA- support rating floor and F1+ short-term senior unsecured debt ratings.
* Fitch affirmed the A+/F1 long- and short-term issuer default ratings of Kuwait Finance House KSCP and Industrial Bank of Kuwait KSC (Closed), with a stable outlook on the long-term ratings. The agency also affirmed the banks' "bb+" viability ratings, 1 support ratings and A+ support rating floors.
* Moody's said the outlook on Oman's banking system remains negative due to a weakening asset quality and limited access to funding. The agency said the Omani government's ability to support local banks if the need arises is diminishing.
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