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EMEA ratings roundup, March 22

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

EUROPE

* S&P Global Ratings upgraded the long- and short-term foreign- and local-currency sovereign credit ratings of Croatia to BBB-/A-3 from BB+/B, and revised the outlook to stable from positive, citing the country's improving fiscal metrics, including declining government debt.

* Fitch Ratings revised the outlook on Bulgaria's long-term foreign-currency issuer default rating to positive from stable while affirming it at BBB, citing an improvement in the country's external finance metrics.

* Fitch affirmed Luxembourg's long- and short-term foreign- and local-currency issuer default rating at AAA/F1+, with stable outlooks on the long-term ratings. Its AAA country ceiling was also affirmed.

* S&P Global Ratings affirmed its unsolicited AA/A-1+ long- and short-term sovereign credit ratings on Belgium, with a stable outlook.

* S&P Global Ratings affirmed the long- and short-term sovereign credit ratings of Norway at AAA/A-1+. The outlook is stable.

* Fitch affirmed Denmark's AAA/F1+ long- and short-term foreign- and local-currency issuer default ratings, with stable outlooks on the long-term ratings, and its country ceiling at AAA.

* S&P Global Ratings affirmed Latvia's long- and short-term foreign- and local-currency sovereign credit ratings at A/A-1, with a stable outlook.

* Fitch affirmed Kazakhstan's BBB/F2 long- and short-term foreign- and local-currency issuer default rating, with stable outlooks on the long-term ratings. Its country ceiling was also affirmed, at BBB+.

* DBRS confirmed Slovakia's A (high)/R-1 (middle) long- and short-term foreign- and local-currency issuer ratings, with stable trends.

* S&P Global Ratings affirmed its A-/A-2 unsolicited long- and short-term foreign- and local-currency sovereign credit ratings on Spain. The outlook is positive.

* DBRS confirmed Spain's long- and short-term foreign- and local-currency issuer ratings at A/R-1 (low). The trend on the ratings is stable.

* Moody's affirmed Ibercaja Banco SA's long-term local- and foreign-currency bank deposits at Ba3 and changed the outlook on the ratings to positive from stable. The agency also assigned the Spanish lender long- and short-term foreign-currency counterparty risk ratings of Ba2/Not Prime, while affirming its Ba2 long-term local-currency counterparty risk rating, Ba1(cr) long-term counterparty risk assessment and "ba3" baseline and adjusted baseline credit assessments.

* Moody's placed the Baa1/Prime-2 long- and short-term local- and foreign-currency bank deposit ratings of Austria-based Card Complete Service Bank AG on review for downgrade, among other ratings.

* DBRS confirmed the ratings of Finland-based Nordea Bank Abp, including its long- and short-term issuer ratings and long- and short-term deposit ratings of AA (low)/R-1 (middle). The agency also confirmed the AA (low)/R-1 (middle) long-and short-term deposit ratings of Nordea Bank's branches in Norway, Sweden and Denmark, as well as the AA (low)/R-1 (middle) long-and short-term issuer ratings of Nordea Mortgage Bank PLC. The trend on all the ratings is stable.

* Fitch assigned PJSC JSB Ukrgasbank long-term foreign- and local-currency issuer default ratings of B- and national long-term ratings of AA(ukr), with stable outlooks. The Ukrainian lender was also assigned short-term foreign-and local-currency issuer default ratings of B, a viability rating of "b-", a support rating of 5 and a support rating floor of B-.

AFRICA

* S&P Global Ratings affirmed Kenya's B+/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

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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.