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 affirmed Uzbekistan-based JSCB with Foreign Capital Hamkorbank's B+/B long- and short-term issuer credit ratings and revised the outlook on the lender's long-term issuer credit ratings to positive from stable.
* Fitch Ratings upgraded Serbia-based ProCredit Bank a.d. Beograd's long- and short-term foreign- and local-currency issuer default ratings to BBB-/F3 from BB+/B, with a stable outlook on the long-term ratings. The agency also upgraded the bank's support rating to 2 from 3.
* Fitch affirmed Belgium's AA-/F1+ long- and short-term foreign- and local-currency issuer default ratings, with stable outlooks on the long-term ratings. The agency also affirmed the country's AAA country ceiling and AA-/F1+ long- and short-term senior unsecured debt ratings.
* DBRS upgraded Portugal's long- and short-term foreign- and local-currency issuer ratings to BBB(high)/R-1(low). The trend on all the ratings is stable.
* Moody's upgraded the Czech Republic's long-term issuer and senior unsecured debt ratings to Aa3 from A1 and revised the outlook to stable from positive. The rating actions reflect further improvements in the country's fiscal strength metrics, which are now in line with the median for similarly Aa3-rated peers even under an adverse scenario. Moody's also changed the Czech Republic's long-term foreign-currency bond ceiling to Aa1 from Aa2, its long-term foreign-currency deposit ceiling to Aa3 from A, and its long-term local-currency country ceilings for bonds and deposits to Aa1 from Aa2. The short-term ceilings for foreign-currency bonds and bank deposits were unchanged at P-1.
* Fitch affirmed Estonia's AA-/F1+ long- and short-term foreign- and local-currency issuer default ratings, with stable outlooks on the long-term ratings. The agency also affirmed the country's AAA country ceiling.
MIDDLE EAST
* Capital Intelligence Ratings affirmed Bahrain's long- and short-term foreign- and local-currency ratings at BB/B. The outlook on all the ratings remains negative.
AFRICA
* S&P Global Ratings changed the outlook on Morocco's credit ratings to stable from negative, citing expected improvement in the country's budgetary position. The agency also affirmed the country's BBB-/A-3 long- and short-term sovereign credit ratings.
* Moody's affirmed Senegal's Ba3/Not Prime long- and short-term foreign- and local-currency issuer ratings, with stable outlooks on the long-term ratings. The agency also affirmed its Ba3 foreign-currency senior unsecured debt ratings. The ratings action is based on the continuation of transparent and predictable economic policies in the country that support steady growth in gross domestic product and wealth levels.
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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.
