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EMEA ratings roundup, June 4

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EMEA ratings roundup, June 4

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

EUROPE

* DBRS upgraded Banco de Sabadell SA's long-term issuer, deposit and senior debt ratings to A(low). The agency also raised the Spanish bank's long- and short-term critical obligation ratings to A(high)/R-1(middle) and senior nonpreferred debt rating to BBB(high), and confirmed the bank's R-1(low) issuer, deposit and senior debt ratings. The trends on all the ratings are stable. The bank's intrinsic assessment is now at A(low), while its support assessment remains at SA3.

* Moody's downgraded First Investment Bank AD's long-term deposit rating to B2 from B1, with a stable outlook. The rating agency also lowered the Bulgarian lender's baseline credit assessment and adjusted baseline credit assessment to "b3" from "b2," long-term counterparty risk rating to Ba3 from Ba2 and the long-term counterparty risk assessment to Ba2(cr) from Ba1(cr). Its Not-Prime short-term deposit rating and counterparty risk rating and Not-Prime(cr) short-term counterparty risk assessment were affirmed.

AFRICA

* Fitch Ratings downgraded Tunisia-based Wifak International Bank SA's long- and short-term national ratings to BB(tun)/B(tun) from AA+(tun)/F1+(tun), with a stable outlook on the long-term rating.

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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.