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EMEA ratings roundup, May 23

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


* DBRS confirmed Société Générale SA's A (high)/R-1 (middle) long- and short-term issuer and deposits ratings, A (high) long-term senior debt rating, R-1 (middle) short-term debt rating and AA/R-1 (high) long- and short-term critical obligations ratings. The trend on the long-term ratings remains positive, while that on the short-term ratings remains stable. The French lender's intrinsic and support assessments were confirmed at A (high) and SA3, respectively.

* Moody's withdrew Germany-based DSK Hyp AG's Aa2/P-1 long- and short-term bank deposit ratings, Aa2/P-1 long- and short-term counterparty risk ratings, Aa2(cr)/P-1(cr) long- and short-term counterparty risk assessments, and "a3" baseline and adjusted baseline credit assessments for the agency's own business reasons. The outlook on the Skandinaviska Enskilda Banken AB unit and its long-term bank deposit rating was stable prior to being withdrawn.

* Moody's upgraded PJSC ROSBANK's long-term bank deposit and senior unsecured debt ratings to Baa3 from Ba1, with stable outlooks. The rating agency also upgraded the Russian lender's short-term bank deposit ratings to Prime-3 from Not Prime, its baseline credit assessment to "ba2" from "ba3" and its adjusted baseline credit assessment to "baa3" from "ba1". Rosbank's long- and short-term counterparty risk ratings were upgraded to Baa2/Prime-2 from Baa3/Prime-3 and its long- and short-term counterparty risk assessments to Baa2(cr)/Prime-2(cr) from Baa3(cr)/Prime-3(cr).

* Fitch Ratings affirmed Kazakhstan-based JSC Agrarian Credit Corp.'s BB+ long-term foreign- and local-currency issuer default ratings, B short-term foreign-currency issuer default rating and AA(kaz) national long-term rating. The outlook on the long-term ratings is stable. Fitch also affirmed the company's BB+ senior unsecured debt ratings.


* Fitch downgraded Arab Tunisian Bank's viability rating to "b-" from "b". Fitch also affirmed the Tunisian bank's BB-/B long- and short-term foreign- and local-currency issuer default ratings, AA+(tun)/F1+(tun) national long- and short-term ratings and 3 support rating. The outlooks on the long-term issuer default rating and national long-term rating are negative and stable, respectively.

* Fitch affirmed Arab Banking Corp. - Tunisie's AA+(tun)/F1+(tun) long- and short-term national ratings, with a stable outlook on the long-term rating. The Tunisia-based bank's AA+(tun) national senior unsecured debt rating was also affirmed.

* Moody's downgraded Zambia's long-term issuer ratings to Caa2 from Caa1 and revised the outlook to negative from stable. The rating agency also downgraded the country's long-term foreign-currency bond ceiling to B3 from B2, its long-term foreign-currency deposit ceiling to Caa3 from Caa2 and its long-term local-currency bond and deposit ceilings to B2 from B1.

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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.