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EMEA ratings roundup, Aug. 6

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

EUROPE

* Fitch Ratings upgraded the long- and short-term issuer default ratings of U.K.-based ICBC Standard Bank PLC to A-/F1 from BBB+/F2, with the long-term rating carrying a stable outlook. The short-term rating was removed from under criteria observation. In addition, the rating agency raised the bank's support rating to 1 from 2, its derivative counterparty rating to A-(dcr) from BBB+(dcr) and its long- and short-term senior unsecured ratings to A-/F1 from BBB+/F2.

* Fitch withdrew the ratings of Banco Português de Investimento SA, including its long- and short-term issuer default ratings of BBB/F2, following its merger into parent Banco BPI SA.

* Moody's upgraded Commercial Bank Kuban Credit LLC's long-term local- and foreign-currency deposit ratings to B2 from B3, with a stable outlook. The agency also raised the Russian lender's baseline and adjusted baseline credit assessments to "b2" from "b3," its long-term local- and foreign-currency counterparty risk ratings to B1 from B2 and its long-term counterparty risk assessment to B1(cr) from B2(cr).

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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.