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EMEA ratings roundup, Sept. 20

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EMEA ratings roundup, Sept. 20

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 Russia-based PJSC Sovcombank's long-term issuer credit rating to BB from BB- and changed the outlook on the rating to stable from positive. Meanwhile, Fitch Ratings upgraded the Russian bank's long-term foreign- and local-currency issuer default ratings to BB+ from BB, and revised the outlook on the ratings to stable from positive.

* Fitch affirmed Spanish lender Cecabank SA's BBB-/F3 long- and short-term issuer default ratings, "bbb-" viability rating, 5 support rating and No Floor support rating floor.

* S&P Global Ratings revised the outlook on British guarantor loan provider Amigo Loans Ltd's issuer credit rating to negative from stable, while affirming the rating at B+. The ratings agency also downgraded the firm's senior unsecured debt rating to B from B+ and recovery rating to 5 from 4.

* Fitch affirmed Denmark's AAA long-term foreign- and local-currency issuer default ratings, with a stable outlook.

* S&P Global Ratings upgraded Spain's unsolicited foreign- and local-currency long- and short-term sovereign credit ratings to A/A-1 from A-/A-2, with a stable outlook.

* Meanwhile, DBRS confirmed Spain's long- and short-term foreign- and local-currency issuer ratings at A/R-1(low). The trend on all the ratings has been changed to positive.

* Moody's changed the outlook on Cyprus' Ba2 ratings to positive from stable and affirmed the country's Ba2 long-term issuer and senior unsecured ratings.

AFRICA

* Moody's revised the outlook on Ethiopia to negative from stable and affirmed the country's B1 long-term issuer and senior unsecured ratings.

* Moreover, Moody's upgraded Mozambique's long-term local- and foreign-currency issuer ratings to Caa2 from Caa3, and maintained the stable outlook on the country.

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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.