S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.
EUROPE
* Moody's took several rating actions on Portugal-based Caixa Económica Montepio Geral caixa económica bancária SA, or Banco Montepio, including upgrading its long-term bank deposit ratings to B1 from B3. The long-term bank deposit ratings were assigned a stable outlook and removed from Rating Under Review, where they were placed in July.
* Fitch Ratings upgraded Italian payments firm Nexi SpA's long-term issuer default ratings to BB from BB- and changed the outlook on the rating to stable from positive. The agency also upgraded the company's long-term senior unsecured debt rating to BB+ from BB.
* Moody's downgraded Italy-based Cassa Centrale Banca Credito Cooperativo Italiano SpA's long- and short-term issuer ratings to Ba1/Not Prime from Baa3/Prime-3 and baseline and adjusted baseline credit assessments to "ba1" from "baa3." The long-term issuer rating was assigned a stable outlook and removed from Rating Under Review. The rating downgrades concluded the agency's review of the company's credit assessments. Cassa Centrale Banca's Baa3/Prime-3 long- and short-term counterparty risk and bank deposit ratings, as well as its Baa3(cr)/Prime-3(cr) long- and short-term counterparty risk assessments remain on review but the agency changed the direction on their reviews to review for upgrade from review for downgrade.
* Moody's affirmed Russian lender PJSC Commercial Вank Center-invest's Ba3/Not Prime long- and short-term bank deposit ratings, with a stable outlook on the long-term rating. The agency also affirmed the bank's "ba3" baseline and adjusted baseline credit assessments, Ba2(cr)/Not Prime(cr) long- and short-term counterparty risk assessments, and Ba2/Not Prime long- and short-term counterparty risk ratings.
* Fitch took several rating actions on Russian lender JSC Alfa-Bank, including revising the outlook on its long-term foreign- and local-currency issuer default ratings to positive from stable. The agency also changed the outlook on the BB Long-term issuer default rating of Alfa Bank's Cyprus-based parent ABH Financial Ltd. to positive from stable. Additionally, Fitch affirmed the long-term senior unsecured debt ratings of Ireland-based Alfa Bond Issuance PLC and Alfa Holding Issuance plc.
* ACRA affirmed the AAA(RU) credit rating of Russia-based AO Toyota Bank, with a stable outlook.
MIDDLE EAST
* Capital Intelligence Ratings affirmed the B/B long- and short-term foreign currency ratings of Export Development Bank of Iran. The rating agency also affirmed the bank's extraordinary support level at moderate and its bank stand-alone and core financial strength ratings at "b." The outlooks on the long-term foreign-currency rating and the bank's stand-alone rating remain stable.
AFRICA
* Fitch took several rating actions on Development Bank of Namibia, following the downgrade of Namibia's long-term issuer default ratings. The agency downgraded the state-owned policy bank's long-term foreign- and local-currency issuer default ratings to BB from BB+ and long-term national rating to AA-(zaf) from AA+(zaf). The outlooks on the long-term issuer default and national ratings were changed to stable from negative.
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