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MEA ratings roundup through May 2


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MEA ratings roundup through May 2

S&P Global Market Intelligence presents a weeklyoverview of various ratings actions on Middle Eastern and African financialinstitutions and economies. Ratings actions are listed by announcement date inreverse chronological order.

April 29

*Moody's downgradedNigeria's long-term issuer ratings to B1 from Ba3, with a stable outlook. Therating agency also lowered Nigeria's long-term foreign-currency bond ceiling toBa3 from Ba2; its long-term foreign-currency deposit ceiling to B2 from B1; andthe long-term local-currency bond and deposit ceilings to Ba1 from Baa3.

*Fitch Ratings cut Mozambique's long-term foreign- and local-currencyissuer default ratings to CCC from B, as well as its short-term issuer defaultrating to C from B. The country ceiling was lowered to B- from B.

*Moody's loweredAngola's long-term issuer and senior unsecured debt ratings to B1 from Ba2,with a negative outlook. The agency also downgraded Angola's long-term local-currencybond and deposits country ceilings to Ba1 from Baa3; the long-termforeign-currency bond ceiling to Ba3 from Ba1; and the long-termforeign-currency deposit ceiling to B2 from Ba3.

*Standard & Poor's Ratings Services revised to negative from stable the outlook on Botswana.The rating agency affirmed the country's and the 's long- and short-termforeign- and local-currency sovereign credit ratings of A-/A-2 and the bank'sshort-term local-currency debt rating of A-2.

*Moody's downgradedGabon's government bond and issuer ratings to B1 from Ba3, with a negativeoutlook. The country and deposit ceilings were lowered to Ba1 fromBaa3.

*Moody's downgradedthe government issuer rating of the Republic of Congo to B2 from B1 with anegative outlook. The agency also lowered the country and deposit ceilings toBa2 from Ba1.

April 28

*Fitch assignedCommercial Bank InternationalPSC long- and short-term issuer default ratings of A-/F1, with astable outlook on the long-term rating. The bank was also assigned a viabilityrating of "b+" and a support rating of 1.

April 27

*Capital Intelligence loweredto A- from A Bank MuscatSAOG's financial strength rating.

*Capital Intelligence affirmedAl Ahli Bank of KuwaitK.S.C.P.'s A- financial strength rating.

April 26

*S&P revised tonegative from stable the outlooks on Arab Bank Group unit Arab Bank Plc and Al Baraka Banking Group B.S.C. unit . The agencyaffirmed both banks' long- and short-term counterparty credit ratings at BB-/B.

*S&P assigned itszaAAA long-term and zaA-1 short-term South Africa national-scale counterpartycredit ratings to Old MutualPlc unit Old MutualLife Assurance Co. (South Africa) Ltd.

S&P Ratings and S&P Global Market Intelligenceare owned by S&P Global Inc.