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EMEA ratings roundup, Oct. 21

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EMEA ratings roundup, Oct. 21

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 and Fitch Ratings withdrew the ratings of Virgin Money Holdings (UK) PLC and subsidiary Virgin Money PLC. Moody's withdrew the Baa3/P-3 and Baa1/P-2 long- and short-term issuer ratings of Virgin Money Holdings and Virgin Money, respectively, as well as Virgin Money's A2/P-1 long- and short-term counterparty risk ratings, A2(cr)/P-1(cr) long- and short-term counterparty risk assessments and "baa2" baseline and adjusted baseline credit assessments. The outlook on both entities' long-term issuer ratings was positive before the withdrawal.

Meanwhile, Fitch maintained on Rating Watch Negative Virgin Money Holdings' BBB+ long-term issuer default rating and Virgin Money's A- long-term issuer default rating and subsequently withdrew the ratings. the agency also affirmed and withdrew the F2 short-term issuer default ratings of Virgin Money Holdings and Virgin Money, as well as their respective 2 and 5 support ratings and BBB+ and A- senior unsecured debt ratings.

* Moody's affirmed Banca March SA's A3/Prime-2 long- and short-term deposit ratings, with a stable outlook on the long-term rating. The agency also affirmed the Spanish lender's "baa2" baseline and adjusted baseline credit assessments, A3(cr)/Prime-2(cr) long- and short-term counterparty risk assessments and A2/Prime-1 long- and short-term counterparty ratings.

* Fitch placed Türkiye Halk Bankası AŞ' B+/B long- and short-term foreign-currency issuer default ratings, BB-/B long- and short-term local-currency issuer default ratings, "b" viability rating, B+ senior unsecured debt rating, 4 support rating, B+ support rating floor and AA(tur) national long-term rating on Rating Watch Negative. The action follows U.S. charges filed against the Turkish lender for its alleged role in a multibillion-dollar scheme to evade U.S. sanctions against Iran.

* Fitch affirmed Kazakhstan-based JSC Leasing Group's B/B long- and short-term foreign- and local-currency issuer default ratings and BB+(kaz) national long-term rating. The outlook on the long-term ratings is stable.

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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.