trending Market Intelligence /marketintelligence/en/news-insights/trending/kzlsl2wpy5hq08ifnzbsig2 content esgSubNav
In This List

EMEA ratings roundup, Oct. 5

Blog

Banking Essentials Newsletter 2021: December Edition

Blog

Automating Credit Risk Surveillance Using Statistical Models

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling

Case Study

A Chinese Bank Takes Steps to Minimize Risks as it Supports International Trade


EMEA ratings roundup, Oct. 5

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

EUROPE

* S&P Global Ratings affirmed France's unsolicited AA/A-1+ long- and short-term sovereign credit ratings, with a stable outlook.

* Fitch Ratings raised Estonia's long-term foreign- and local-currency issuer default ratings to AA- from A+, with a stable outlook, citing the country's improved external position.

* S&P affirmed the B/B long- and short-term foreign- and local-currency sovereign credit ratings on Belarus, with a stable outlook on the long-term ratings.

* Fitch placed Netherlands-based LeasePlan Corp. NV's BBB+/F2 long- and short-term issuer default ratings, "bbb+" viability rating and BBB+ long-term senior unsecured debt rating on Rating Watch Positive, while affirming its support rating at 5.

* Fitch lowered the viability rating of İstanbul Takas ve Saklama Bankası AŞ to "b+" from "bb-" and affirmed the Turkish bank's foreign- and local-currency long-term issuer default ratings at BB and BB+, respectively, with negative outlooks. The agency also affirmed the lender's AAA(tur) national long-term rating, with a stable outlook, as well as its B foreign- and local-currency short-term issuer default ratings, 3 support rating and BB support rating floor.

* Fitch downgraded TEB Tüketici Finansman AŞ' foreign- and local-currency long-term issuer default ratings to BB- from BB and to BB from BB+, respectively, with negative outlooks. Its national rating was also downgraded to AA(tur) from AAA(tur), with a stable outlook, while its B short-term foreign- and local-currency issuer default ratings and 3 support rating were affirmed.

* DBRS confirmed Instituto de Crédito Oficial's long-term issuer, deposits and senior debt ratings at A and its short-term issuer, debt and deposits ratings at R-1 (low), with stable trends.

* Fitch upgraded the long-term issuer default ratings of Toyota Motor Finance (Netherlands) BV and Toyota Kreditbank GmbH to A+ from A and affirmed their F1 short-term issuer default ratings. The ratings outlook is stable.

MIDDLE EAST

* S&P affirmed Saudi Arabia's unsolicited long- and short-term foreign- and local-currency sovereign credit ratings at A-/A-2, with a stable outlook.

* Fitch downgraded Saudi Arabia-based Islamic Corp. for the Development of the Private Sector's long-term issuer default rating to AA- from AA, with a stable outlook. Its F1+ short-term issuer default rating was affirmed.

* Capital Intelligence Ratings affirmed Bahrain's BB/B long- and short-term foreign- and local-currency sovereign ratings and revised the outlook on the ratings to negative from stable.

AFRICA

* S&P lowered the outlook on Morocco to negative from stable, citing expectation that the North African country will widely miss its budget deficit target in 2018, leading to an increase in government debt.

* Fitch raised the outlook on Gabon to stable from negative, citing the improvement in the African country's reform efforts, among other factors. Its long-term foreign-currency issuer default rating was affirmed at B.

* Fitch affirmed Cote d'Ivoire's long-term foreign- and local-currency Issuer default ratings at B+, with a stable outlook. The rating agency also affirmed the country's short-term foreign- and local-currency issuer default ratings at B and its country ceiling at BBB-.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.

Links are current as of publication time, and we are not responsible if those links are unavailable later.