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European ratings roundup through March 27

S&P Global Market Intelligence presents a weekly overview of ratings actions on European financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.

March 27

* S&P Global Ratings revised the outlook on VEB-Leasing JSC to developing from negative. The agency affirmed the Vnesheconombank unit's BB+/B long- and short-term foreign-currency, its BBB-/A-3 long- and short-term local-currency counterparty credit ratings and "ruAAA" Russian national scale rating.

* S&P affirmed the European Central Bank's AAA/A-1+ long- and short-term issuer credit ratings, with a stable outlook.

March 24

* S&P revised its outlook on Vnesheconombank to developing from negative. At the same time, the rating agency affirmed the Russian lender's BB+/B long- and short-term foreign-currency issuer credit ratings and BBB-/A-3 long- and short-term local-currency issuer credit ratings.

* Moody's took various ratings actions on JSC Kazkommertsbank and JSC Halyk Savings Bank of Kazakhstan after they announced that they had begun merger talks. The agency assigned a positive outlook to Kazkommertsbank's long-term local- and foreign-currency bank deposit ratings and confirmed them at B3. The agency also affirmed the bank's NP short-term local- and foreign-currency deposit ratings, its "ca" baseline and adjusted baseline credit assessments and its NP(cr) short-term counterparty risk assessment.

At the same time, Moody's changed the outlook on Halyk Bank's long-term local- and foreign-currency bank deposit ratings to developing from negative, while affirming them at Ba2. The agency also affirmed the bank's short-term local- and foreign-currency bank deposit ratings at NP. Halyk Bank's "ba3" baseline and adjusted baseline credit assessments and its Ba1(cr)/NP(cr) long- and short-term counterparty risk assessments were also affirmed.

* S&P revised the outlook on BNP Paribas SA unit BNP Paribas Bank JSC, Industrial & Commercial Bank of China Ltd. unit Bank ICBC (JSC) and Credit Suisse Group AG unit Credit Suisse Securities (Europe) Ltd. to positive from stable, reflecting the earlier outlook revision on Russia. At the same time, the agency affirmed the three banks' long- and short-term counterparty credit ratings at BB+/B and their national scale ratings at "ruAA+."

* DBRS confirmed the long-term foreign- and local-currency issuer ratings of Luxembourg at AAA and its short-term foreign- and local-currency issuer ratings at R-1 (high), with stable trends on all the ratings.

* Fitch Ratings affirmed Georgia's BB- long-term foreign- and local-currency issuer default ratings, its BB country ceiling and B short-term foreign- and local-currency issuer default ratings. The outlooks on the long-term ratings are stable.

* Moody's affirmed Denmark's Aaa long-term issuer rating and its Prime-1 short-term ratings. The outlook on the long-term rating remains stable.

* DBRS downgraded Veneto Banca SpA's issuer rating and senior long-term debt and deposits ratings to B (high) from BB (low) and its intrinsic assessment to B (high) from BB (low). The rating agency placed the bank's issuer rating and senior long-term debt and deposits ratings and its R-4 short-term debt and deposits ratings under review with negative implications.

DBRS also placed Banca Popolare di Vicenza SpA's B (high) issuer rating and senior long-term debt and deposit ratings and R-4 short-term debt and deposit ratings under review with negative implications.

* DBRS kept under review with developing implications Banca Monte dei Paschi di Siena SpA's B (low) issuer rating and senior long-term debt and deposit rating, as well as its R-5 short-term debt and deposit ratings. The Italian lender's BBB (low)/R-2 (middle) long- and short-term critical obligations ratings remain under review with negative implications.

* Fitch affirmed Aareal Bank AG's BBB+ long-term issuer default rating and senior debt ratings, "bbb+" viability rating, F2 short-term issuer default rating, 5 support rating, No Floor support rating floor, A-(dcr) derivative counterparty rating and A-/F2 deposit ratings. The outlook on the long-term ratings is stable. At the same time, the ratings of unit Westdeutsche ImmobilienBank AG were equalized with those of the parent company, resulting in the affirmation of its long-term issuer default rating at BBB+, with a stable outlook, and its short-term issuer default rating at F2 and support rating at 2.

* S&P affirmed Bankia SA's BBB-/A-3 long- and short-term counterparty credit ratings, with a positive outlook. The agency also affirmed parent BFA Sociedad Tenedora de Acciones SAU's BB+/B long- and short-term counterparty credit ratings, with a positive outlook.

* S&P affirmed Croatia's BB/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

* S&P affirmed Latvia's A-/A-2 long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

March 23

* Fitch assigned Mediobanca SpA a derivative counterparty rating of BBB+(dcr). The agency also affirmed the bank's BBB+ long-term issuer default rating, F2 short-term issuer default rating, "bbb+" viability rating, 5 support rating and No Floor support rating floor. The outlook on the long-term rating is negative.

* Moody's upgraded Raiffeisen Bank International AG unit Raiffeisenbank (Bulgaria) EAD's long-term foreign- and local-currency bank deposit ratings to Ba2 from Ba3 and changed the outlook on the ratings to stable from positive. The agency also upgraded the unit's adjusted baseline credit assessment to "ba2" from "ba3" and its long- and short-term counterparty risk assessments to Baa2(cr)/P-2(cr) from Baa3(cr)/P-3(cr). The bank's Not-Prime short-term local- and foreign-currency bank deposit ratings were affirmed.

Moody's also upgraded Romania-based unit Raiffeisen Bank SA's long- and short-term local- and foreign-currency deposit ratings to Baa3/Prime-3 from Ba1/Not-Prime. The agency also upgraded the bank's adjusted baseline credit assessment to "ba2" from "ba3" and its long- and short-term counterparty risk assessments to Baa2(cr)/Prime-2(cr) from Baa3(cr)/Prime-3(cr).

The agency also upgraded Slovakia-based unit Tatra banka a.s.'s long-term deposit ratings to A3 from Baa1, its long-term issuer ratings to Baa1 from Baa2 and its baseline and adjusted baseline credit assessments to "baa3" from "ba1." The bank's counterparty risk assessment was upgraded to A2(cr)/Prime-1(cr) from A3(cr)/Prime-2(cr), while its Prime-2 short-term deposits were affirmed.

* Fitch placed Credito Valtellinese SpA's BB long-term issuer default rating and its "bb" viability rating on rating watch negative.

* DBRS confirmed Skandinaviska Enskilda Banken AB's A (high) issuer rating, its A (high) senior unsecured debt and deposits ratings and its R-1 (middle) short-term debt and deposits ratings, with stable trends on all ratings.

* DBRS confirmed Nordea Bank AB (publ)'s AA (low) issuer rating, its AA (low) senior unsecured debt and deposits ratings and its R-1 (middle) short-term debt and deposit ratings, with stable trends on all ratings.

March 22

* Moody's affirmed U.K.-based Itau BBA International Plc's long-term deposit and issuer ratings at A3 and revised the outlook to stable from negative. Moody's also affirmed the company's short-term bank deposits at P-2, its baseline and adjusted baseline credit assessments at "baa2" and its long- and short-term counterparty risk assessments at A2(cr)/P-1(cr).

* Moody's upgraded Caixa Geral de Depósitos SA's baseline and adjusted baseline credit assessments to "b2" from "b3." The agency also upgraded the bank's long-term counterparty risk assessment to Ba1(cr) from Ba2(cr) while confirming its B1 long-term deposit and senior debt ratings with a stable outlook.

March 21

* Moody's upgraded Raiffeisen Bank International AG's long-term debt and deposit ratings to Baa1 from Baa2 and revised its outlook to stable from positive, following the completion of its merger with Raiffeisen Zentralbank Österreich AG. The agency also upgraded RBI's baseline credit assessment to "ba2" from "ba3," adjusted baseline credit assessment to "ba1" from "ba2" and its long-term counterparty risk assessment to Baa1(cr) from Baa2(cr). The bank's P-2 short-term ratings and P-2(cr) short-term counterparty risk assessment were affirmed.

* Fitch assigned ING Bank Slaski SA a national long-term rating of AAA(pol) and a national short-term rating of F1+(pol) with a stable outlook on the long-term rating, reflecting the outlook for ING Bank NV, which owns 75% of the Polish lender. ING Bank Slaski and ING Bank NV are controlled by ING Groep NV.

* S&P revised the outlook on JSC The Agency for Housing Mortgage Lending to positive from stable, while affirming its BB+/B long- and short-term issuer credit ratings and ruAA+ Russia national scale rating.

* S&P maintained Caixa Geral de Depósitos' BB- long-term counterparty credit rating on CreditWatch positive, and affirmed its B short-term rating.

* S&P affirmed Joint-Stock Commercial Interregional Fuel and Energy Bank Mezhtopenergobank PJSC's long- and short-term counterparty credit ratings at B-/C and its Russia national-scale rating at "ruBBB-" and subsequently withdrew them at the issuer's request. At the time of withdrawal, the outlook on the ratings was negative.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.