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EMEA ratings roundup, Sept. 10

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EMEA ratings roundup, Sept. 10

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

EUROPE

* Moody's revised the outlook on Bulgaria's Municipal Bank PLC to negative from stable while affirming its long- and short-term deposit ratings at Ba3/Not Prime. Its baseline and adjusted baseline credit assessments of "b2," counterparty risk ratings of Ba2/Not Prime and counterparty risk assessments of Ba2(cr)/Not Prime(cr) were also affirmed.

* S&P Global Ratings changed the outlook on ABANCA Corporación Bancaria SA's long-term issuer credit rating to positive from stable while affirming it at BB+. The agency also affirmed the Spanish bank's B short-term issuer credit rating and "bb+" stand-alone credit profile.

* S&P Global Ratings affirmed AXA Bank Belgium SA's A+/A-1 long- and short-term issuer credit ratings and revised the outlook on the Axa SA unit to negative from stable.

MIDDLE EAST

* Fitch Ratings assigned Bahrain-based Arab Banking Corp. BSC a support rating floor of BB- and affirmed the lender's support rating at 3.

AFRICA

* Moody's said the outlook on South Africa's banking system is stable, on expectations that banks' capital will be resilient and their profitability will remain firm over the next 12 to 18 months despite the slowdown in the country's economic growth.

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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.