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European ratings roundup through May 14

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European ratings roundup through May 14

S&P Global Market Intelligence presents a weekly overview of ratings actions on European financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.

May 14

* Moody's downgraded GarantiBank International NV's long-term bank deposit rating to Baa1 from A3 and its baseline credit assessment to "baa3" from "baa2," with a stable outlook on the long-term deposit rating, concluding a review for downgrade initiated in March. The Dutch bank's Prime-2 short-term bank deposit rating, "baa2" adjusted baseline credit assessment and A2(cr)/Prime-1(cr) long- and short-term counterparty risk assessments were affirmed.

* Fitch Ratings upgraded Unipol Banca SpA's long-term issuer default rating to BB+ from BB, with a stable outlook, and affirmed the Italian bank's short-term issuer default rating at B and support rating at 3.

* Fitch assigned a B+ long-term issuer default rating to Evergood 4 APS, the new majority shareholder of Denmark-based payments provider Nets A/S through its Evergood 5 unit.

* Moody's affirmed Unione di Banche Italiane SpA's long-term issuer and senior unsecured debt ratings at Baa3 and revised the outlook to negative from stable. The agency also affirmed the Italian bank's Baa2/P-2 long- and short-term deposit ratings, "ba2" baseline and adjusted baseline credit assessments and Baa2(cr)/P-2(cr) long- and short-term counterparty risk assessments.

* ACRA affirmed Russia-based OJSC Sterkh Regional Insurance Co.'s BBB(RU) credit rating and changed the outlook to negative from stable.

May 12

* DBRS confirmed France's AAA long-term foreign- and local-currency issuer ratings and R-1 (high) short-term foreign- and local-currency issuer ratings, with stable outlooks.

May 11

* Moody's withdrew the B3/Not Prime long- and short-term local- and foreign-currency deposit ratings, "b3" baseline and adjusted baseline credit assessments and B2 (cr)/Not Prime (cr) long- and short-term counterparty risk assessments of Russia-based PJSC Bank Derzhava. The long-term deposit ratings had a stable outlook at the time of withdrawal.

* S&P Global Ratings affirmed Kazakhstan-based Tsesnabank JSC's B+/B long- and short-term issuer credit ratings, with a negative outlook. The agency also affirmed the bank's kzBBB- long-term Kazakhstan national scale rating.

* Fitch affirmed the A issuer default ratings of Beazley PLC and unit Beazley Insurance DAC, with stable outlooks. Beazley Insurance's A+ insurer financial strength rating was also affirmed.

* S&P upgraded AB Industrivarden's long-term issuer credit rating and senior unsecured debt to A+ from A, with a stable outlook, and affirmed the Swedish investment holding company's short-term issuer credit rating at A-1 and its short-term Nordic regional scale rating at K-1.

May 10

* Fitch assigned BBB+ long-term issuer default ratings to Hastings Group Holdings PLC and Hastings Insurance Group (Finance) PLC.

* Moody's affirmed the Baa1/Prime-2 long- and short-term deposit ratings and Baa2 long-term issuer rating of Ceskoslovenská obchodná banka a.s. and revised the outlook on the long-term ratings to positive from stable. The rating agency also affirmed the bank's "ba1" baseline credit assessment, "baa3" adjusted baseline credit assessment and A3(cr)/Prime-2(cr) long- and short-term counterparty risk assessments.

* A.M. Best affirmed Switzerland-based MS Amlin AG's A (Excellent) financial strength rating and its "a+" long-term issuer credit rating, with stable outlooks.

May 9

* Fitch upgraded the long-term issuer default ratings of Unipol Gruppo SpA and UnipolSai Assicurazioni SpA to BBB (Good) from BBB-, with a stable outlook. The rating agency also upgraded Unipol Gruppo's senior unsecured debt rating to BBB- from BB+ and affirmed UnipolSai's insurer financial strength rating at BBB, with a stable outlook.

* Moody's downgraded to A3/Prime-2 from A2/Prime-1 the local- and foreign-currency long- and short-term deposit ratings of KLP Banken AS, with a stable outlook, concluding a review for downgrade initiated in March. The bank's "baa1" baseline credit assessment, "a3" adjusted baseline credit assessment and Aa3(cr)/P-1(cr) long- and short-term counterparty risk assessments were affirmed.

* DBRS revised the trend on the A (low) long-term issuer, deposits and senior debt ratings of Deutsche Bank AG to negative from stable and confirmed the German lender's R-1 (low) short-term ratings.

* S&P affirmed Banco BPI SA and unit Banco Português de Investimento SA's BBB-/A-3 long- and short-term issuer credit ratings, with stable outlooks.

May 8

* S&P upgraded the long- and short-term counterparty credit ratings of Lloyds Bank Corporate Markets and Lloyds Bank International Ltd. to A/A-1 from A-/A-2 and the long-term ratings of ring-fenced entities Lloyds Bank PLC and Bank of Scotland PLC to A+ from A. The agency changed the outlook on the entities to stable from positive, while affirming the ring-fenced entities' A-1 short-term ratings and the BBB+/A-2 long- and short-term ratings of HBOS PLC and holding company Lloyds Banking Group PLC, with a stable outlook.

* Moody's kept the positive outlook on the Hungarian banking system.

* ACRA upgraded Russia-based LLC CBED The Bank of Kazan's credit rating to BB+(RU) from BB-(RU), with a stable outlook.

* S&P affirmed Russia-based JSC RN Bank's BB+/B long- and short-term issuer credit ratings, with a stable outlook.

* S&P affirmed Uzbekistan-based JSCM Ipoteka Bank's B+/B long- and short-term issuer credit ratings, with a stable outlook.

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.