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EMEA ratings roundup, Aug. 31

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

EUROPE

* Fitch Ratings revised the outlook on Italy to negative from stable, saying the government might implement policies that could increase the country's exposure to potential shocks. The rating agency also affirmed the European nation's long-term foreign-currency issuer default rating at BBB.

* Fitch downgraded Azerbaijan-based AccessBank CJSC's long- and short-term issuer default ratings to C from BB- and B, respectively. The agency also downgraded the bank's support rating to 5 from 3, while affirming its "f" viability rating.

* Moody's confirmed the Ba2 long-term bank deposit rating of Dutch lender Credit Europe Bank NV, a unit of Turkey-based Fiba Holding AS, and revised the outlook on the rating to negative from rating under review, among other actions. The rating agency also affirmed the long-term bank deposit ratings of Demir-Halk Bank (Nederland) NV, in which Türkiye Halk Bankasi AS holds a minority stake, at Ba1 and revised the outlook on the rating to negative from stable. The negative outlooks reflect the risk of further deterioration in the macroeconomic environment in Turkey, to which the banks are exposed directly through their customer bases and indirectly through shareholders.

* S&P Global Ratings affirmed Lithuania's A/A-1 long- and short-term foreign- and local-currency sovereign credit ratings. The outlook is stable.

* S&P affirmed the BBB-/A-3 long- and short-term foreign- and local-currency sovereign credit ratings of Romania, with a stable outlook.

* S&P affirmed its unsolicited AAA/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings on Sweden, with a stable outlook.

* Fitch affirmed Hungary's long- and short-term foreign- and local-currency issuer default ratings at BBB-/F3, with a positive outlook on the long-term ratings. Its A- country ceiling was also affirmed.

* Fitch affirmed the A/F1 long- and short-term issuer default ratings of U.K. merchant banking group Close Brothers Group PLC and unit Close Brothers Ltd. Their "a" viability ratings, 5 support ratings and No Floor support rating floors were also affirmed. The outlooks on the long-term ratings of both entities are stable.

* Fitch affirmed Investec Bank PLC's BBB+/F2 long- and short-term issuer default ratings, with a stable outlook on the long-term ratings. The agency also affirmed the U.K.-based lender's "bbb+" viability rating, 5 support rating and No Floor support rating floor.

MIDDLE EAST

* S&P affirmed Lebanon's long- and short-term foreign- and local-currency sovereign credit ratings at B-/B. The outlook remains stable.

AFRICA

* S&P affirmed Cape Verde's B/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

* Fitch affirmed Ghana's B/B long- and short-term foreign- and local-currency issuer default ratings, with a stable outlook on the long-term ratings. Its country ceiling was also affirmed at B.

* Capital Intelligence Ratings affirmed the BBB financial strength rating of South Africa-based Absa Bank Ltd.

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.

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