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EMEA ratings roundup, Sept. 5


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EMEA ratings roundup, Sept. 5

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


* Fitch Ratings revised to negative from stable the outlooks on the BBB long-term issuer default ratings of Italy-based banks UniCredit SpA, Intesa Sanpaolo SpA as well as unit Banca IMI SpA, Mediobanca - Banca di Credito Finanziario SpA and Credito Emiliano SpA, and that on the BBB+ long-term issuer default ratings of Banca Nazionale del Lavoro, following a similar action on the sovereign. The lenders' long- and short-term issuer default ratings were affirmed, among other ratings.

* Moody's upgraded JSC Kazkommertsbank's long-term bank deposit rating to Ba1 from Ba2, with a stable outlook, and its long- and short-term counterparty risk ratings to Baa3/Prime-3 from Ba1/Not-Prime. No changes were made to the lender's other ratings. Moody's said all of Kazkommertsbank's ratings have been equalized with JSC Halyk Savings Bank of Kazakhstan and will be subsequently withdrawn as a result of the two Kazakh lenders' merger.

Additionally, the rating agency affirmed a number of Halyk Bank's ratings, including its Ba1/Not-Prime long- and short-term bank deposit ratings and Ba3 senior unsecured debt rating. The outlook on the long-term bank deposit rating and senior unsecured debt rating remains stable.

* Moody's affirmed Uzbekistan-based JSCB with Foreign Capital Hamkorbank's long-term local- and foreign-currency deposit ratings at B2, among other ratings. The outlook on the long-term local-currency deposit rating was revised to positive from negative, while the outlook on the long-term foreign-currency deposit rating was changed to stable from negative.

* Fitch withdrew the A+/F1+ long- and short-term issuer default and deposit ratings of lenders Kreissparkasse Osterholz, Sparkasse Ostunterfranken, Stadtsparkasse Porta Westfalica, Sparkasse Werl (Zweckverbandssparkasse der Stadt Werl und der Gemeinden Wickede) and Stadtsparkasse Hilchenbach, following their merger with other members of Germany's savings bank group, Sparkassen-Finanzgruppe. The outlooks on the long-term ratings are stable at the time of withdrawal.

* Fitch affirmed the AA+/F1+ long- and short-term foreign-currency issuer default and senior unsecured debt ratings of Banque de Développement du Conseil de l'Europe, or Council of Europe Development Bank. The outlook on the long-term foreign-currency issuer default rating is stable.

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