S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.
* S&P Global Ratings withdrew Banco Português de Investimento SA's BBB/A-2 long- and short-term issuer credit ratings and resolution counterparty ratings. The outlook was stable at the time of withdrawal.
* Moody's downgraded First Investment Bank AD's long-term bank deposit ratings to B3 from B2 and revised the outlook on the rating to negative from stable. The agency also lowered the Bulgarian bank's baseline and adjusted baseline credit assessments to "caa1" from "b3," its long-term counterparty risk ratings to B1 from Ba3 and its long-term counterparty risk assessments to Ba3(cr) from Ba2(cr).
* S&P Global Ratings placed its A/A-1 long- and short-term issuer credit ratings on London Stock Exchange Group PLC, on CreditWatch with negative implications, following news of LSE's intention to acquire data and analytics firm Refinitiv. The agency also placed AA-/A-1+ long- and short-term issuer credit ratings on LCH Ltd. and LCH S.A., on CreditWatch with negative implications.
* Moody's placed Refinitiv's B3 corporate family rating and B3-PD probability of default rating on review for upgrade, with the outcome of the review dependent on the nature of LSE Group's support for Refinitiv's existing debt that remains in the capital structure post-combination and the position of such debt within the British company's capital structure, the agency said.
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