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EMEA ratings roundup, May 20

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EMEA ratings roundup, May 20

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

EUROPE

* DBRS said it is continuing to review German shipping lender Norddeutsche Landesbank Girozentrale's ratings, which were placed under review with negative implications at the end of January. The rating agency added it is continuing to re-evaluate NordLB's SA1 support assessment and BBB (low) intrinsic assessment.

* Moody's upgraded St. Galler Kantonalbank's baseline and adjusted baseline credit assessments to "a2" from "a3" and affirmed its long- and short-term bank deposit ratings at Aa1/P-1. Moody's also affirmed the Swiss bank's Aa1/P-1 long- and short-term counterparty risk ratings, Aa1(cr)/P-1(cr) long- and short-term counterparty risk assessments and Aa1 senior unsecured debt rating.

* ACRA assigned Russia-based JSCB Energobank PJSC a BB-(RU) credit rating with a stable outlook.

MIDDLE EAST

* Capital Intelligence Ratings affirmed the BBB-/A3 long- and short-term foreign-currency ratings of Bank Muscat SAOG, Oman Arab Bank SAOC and National Bank of Oman SAOG. The agency also assigned all three Omani lenders bank stand-alone ratings of "bb+." Oman Arab Bank and National Bank of Oman were also assigned core financial strength ratings of "bbb-" and extraordinary support levels of moderate.

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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.