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EMEA ratings roundup, Oct. 15

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


* Moody's kept the stable outlook on Germany' banking system, reflecting lenders' strong capital and high loan quality.

* Fitch Ratings raised Sollers-Finance LLC's long-term foreign- and local-currency issuer default ratings to BB- from B+, with a stable outlook. The agency also upgraded the Russia-based company's support rating to 3 from 4 and its senior unsecured debt to BB- from B+. At the same time, its short-term foreign-currency issuer default rating was affirmed at B.

* S&P Global Ratings upgraded the long-term resolution counterparty ratings of Poland's Bank Pekao SA and mBank SA to A- from BBB+ and affirmed both banks' A-2 short-term resolution counterparty ratings. The rating agency also affirmed Bank Pekao's BBB+/A-2 long- and short-term issuer credit ratings, with a stable outlook on the long-term rating, and mBank's BBB+/A-2 long- and short-term issuer credit ratings, with a negative outlook on the long-term rating.

* Fitch affirmed LeasePlan Corp. NV's BBB+/F2 long- and short-term issuer default ratings and removed them from Rating Watch Positive. The outlook on the long-term issuer default rating is stable. The Dutch auto leasing company's "bbb+" viability rating and BBB+ long-term senior unsecured debt rating were also affirmed and removed from Rating Watch Positive, while its support rating was affirmed at 5.

* Fitch affirmed the BBB+/F2 long- and short-term issuer default ratings of CYBG PLC, Clydesdale Bank PLC, Virgin Money Holdings (UK) PLC and Virgin Money PLC, with stable outlooks on the long-term ratings. The agency also affirmed the "bbb+" viability ratings, 5 support ratings and No Floor support ratings floors of all four entities, among other ratings. The affirmation comes after CYBG completed its takeover of Virgin Money Holdings, Fitch noted.

* ACRA affirmed the credit rating of AO Toyota Bank at AAA(RU), with a stable outlook.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.

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