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European ratings roundup through June 11

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European ratings roundup through June 11

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.

June 11

* S&P Global Ratings changed the outlook on Austria-based Oberösterreichische Landesbank AG to stable from negative, while affirming its A+/A-1 long- and short-term issuer credit ratings.

* DBRS confirmed Italy-based Banca Popolare dell'Alto Adige SpA's BBB (low)/R-2 (middle) long- and short-term issuer and deposit ratings and revised the trends on both ratings to stable from negative. The bank's BBB (low) long-term senior debt rating and R-2 (middle) short-term debt rating were also confirmed.

* Moody's downgraded JSC Ziraat Bank Uzbekistan's long-term local-currency deposit rating to B2 from B1, its adjusted baseline credit assessment to "b2" from "b1" and long-term counterparty risk assessment to B1(cr) from Ba3(cr). The ratings were also placed on review for further downgrade.

* DBRS assigned first-time A/R-1(low) long- and short-term issuer and deposit ratings to Germany-based Norddeutsche Landesbank Girozentrale. The agency also assigned the bank an A long-term senior debt rating and an R-1(low) short-term debt rating.

* DBRS confirmed Millennium BCP's BB (high)/R-3 long- and short-term issuer ratings and BBB/R-2 (high) critical obligations ratings and revised the trends on the ratings to positive from stable.

* Fitch Ratings assigned Svenska Handelsbanken AB (publ) unit Svenska Handelsbanken Plc an expected long-term issuer default rating of AA(EXP) with a stable outlook. The agency also assigned the bank an expected short-term issuer default rating of F1+(EXP) and an expected support rating of 1(EXP).

June 9

* ACRA assigned Danske Bank A/S unit AO Danske Bank an ???(RU) credit rating, with a stable outlook. The Russia-based agency said the rating reflects that bank will receive extraordinary support from its Denmark-based parent if needed.

* ACRA assigned PJSC Metkombank a BBB-(RU) credit rating, with a stable outlook. The agency said the rating is based on the satisfactory business and risk profile, strong capital adequacy, strong liquidity and funding assessments of the company.

June 8

* Moody's assigned long- and short-term counterparty risk ratings to Portuguese banking groups Caixa Geral de Depósitos SA, Millennium BCP, Novo Banco SA, Banco Santander SA unit Banco Santander Totta SA, Banco BPI SA and Caixa Económica Montepio Geral caixa económica bancária SA. The ratings were Ba1/NP for CGD, Ba2/NP for BCP, B2/NP for Novo Banco, Baa2/P-2 for Banco Santander Totta, Baa2/P-2 for Banco BPI and B2/NP for Montepio.

* Moody's also assigned counterparty risk ratings to 18 Spanish banks, including Banco Santander, Santander Consumer Finance SA Banco Bilbao Vizcaya Argentaria SA and Banco Popular Español SA, and to 14 Austrian lenders, including Raiffeisen Bank International AG, Raiffeisenlandesbank NÖ-Wien, Raiffeisenlandesbank Oberösterreich AG, Raiffeisen-Landesbank Steiermark AG, Raiffeisen-Landesbank Tirol AG, Raiffeisenlandesbank Vorarlberg Waren- und Revisionsverband reg.GmbH and Raiffeisenverband Salzburg eGen.

* DBRS confirmed Germany's long- and short-term foreign- and local-currency issuer ratings of Germany at AAA/R-1 (high) and those of Latvia at A (low)/R-1 (low). The trends on all ratings are stable.

* DBRS confirmed Poland's A/R-1 (low) long- and short-term foreign- and local-currency issuer ratings, with stable trends. Fitch also affirmed Poland's long-term foreign- and local-currency sovereign credit ratings at A-, its short-term foreign-currency issuer default rating at F2 and the short-term local-currency issuer default rating at F1. The country ceilings was affirmed at AA-.

* S&P affirmed Estonia's long- and short-term foreign- and local-currency sovereign credit ratings at AA-/A-1+, with a stable outlook.

* S&P affirmed Iceland's A/A-1 long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook. Fitch also affirmed Iceland's long- and short-term foreign- and local-currency issuer default ratings at A/F1, with a stable outlook on the long-term ratings. The country ceiling was affirmed at A.

* Moody's affirmed TP Icap PLC's Ba1 corporate family rating, with the outlook remaining stable.

* Fitch affirmed the long-term foreign- and local-currency issuer default ratings of Russia-based PAO Credit Bank of Moscow and PJSC Bank Saint-Petersburg at BB-, with stable outlooks. The short-term foreign-currency issuer default ratings of both banks were affirmed at B. Credit Bank of Moscow's "b+" viability rating, 4 support rating and B support rating floor were affirmed, as well as Bank Saint Petersburg's "bb-" viability rating, 5 support rating and No Floor support rating floor. The senior unsecured debt rating of Credit Bank of Moscow unit CBOM Finance Plc was affirmed at BB-.

* Moody's upgraded Russia-based Otkritie Financial Corp. Bank's senior unsecured debt and long-term bank deposit ratings to B1 from B2, with a positive outlook, its baseline and adjusted baseline credit assessments to "caa1" from "caa3" and its long-term counterparty risk assessment to Ba3(cr) from B1(cr). The bank's NP short-term bank deposit rating and its NP(cr) short-term counterparty risk assessment were affirmed.

* DBRS confirmed Lloyds Banking Group PLC's A long-term issuer and senior debt ratings and R-1 (low) short-term issuer and debt ratings and revised the trends on the ratings to positive from stable.

* Moody's assigned Aa1/P-1 long- and short-term local-currency counterparty risk ratings to Liechtenstein-based lenders LGT Bank AG and Liechtensteinische Landesbank AG.

* Fitch changed the outlook on Swedish debt collection firm Intrum Justitia AB to stable from positive.

June 7

* Moody's upgraded Hungary-based Kereskedelmi és Hitelbank Zrt.'s long- and short-term local-currency bank deposit ratings to Baa2/P-2 from Baa3/P-3, with a positive outlook on the long-term rating. The agency affirmed the bank's long- and short-term foreign-currency bank deposit ratings at Baa3/P-3 and its long- and short-term counterparty risk assessments at Baa2(cr)/P-2(cr), with a stable outlook on the long-term foreign-currency bank deposit rating.

* Moody's downgraded and placed on review for further downgrade certain ratings of 17 Turkish banks in Turkey and placed on review for downgrade the ratings of two finance firms, citing a deteriorating operating environment in Turkey.

* Moody's upgraded Swiss bank Banque Cantonale Vaudoise's long-term counterparty risk assessment to Aa3(cr) from A1(cr) and affirmed its P-1(cr) short-term counterparty risk assessment.

June 6

* S&P affirmed JSC Development Bank of the Republic of Belarus's long- and short-term foreign- and local-currency issuer credit ratings at B/B, with a stable outlook.

* Moody's upgraded Czech Republic-based Raiffeisenbank a.s.'s long-term local- and foreign-currency deposit ratings to Baa1 from Baa2, with a stable outlook. The agency also upgraded the Raiffeisen Bank International AG unit's long-term counterparty risk assessment to A3(cr) from Baa1(cr) and its adjusted baseline credit assessment to "baa3" from "ba1" and affirmed its "ba1" baseline credit assessment, Prime-2 short-term bank deposit ratings and Prime-2(cr) short-term counterparty risk assessment.

* Moody's revised the outlook on RBI Romanian unit Raiffeisen Bank SA's long-term local-currency bank deposits to positive from stable, while affirming the rating at Baa2. The short-term local-currency bank deposits were affirmed at P-2.

June 5

* Fitch affirmed French investment bank Rothschild Martin Maurel SCS's long- and short-term issuer default ratings at A/F1, with a negative outlook on the long-term rating. The agency also affirmed the Rothschild & Co SCA unit's "a" viability rating, 5 support rating and No Floor support rating floor.

* Fitch also affirmed the long- and short-term issuer default ratings of Rothschild & Co's U.K.-based N M Rothschild & Sons Ltd. at BBB+/F2, with a stable outlook on the long-term rating.

* S&P revised the outlook on JSC AsiaCredit Bank to negative from stable and affirmed the Kazakhstan-based bank's long- and short-term issuer credit ratings at B-/B. The agency also downgraded the long-term Kazakhstan national scale rating on the bank to kzB+ from kzBB-.

* Fitch put Istanbul Takas ve Saklama Bankasi AS's "bb+" viability rating on Rating Watch Negative and affirmed the bank's long- and short-term foreign-currency issuer default ratings at BB+/B and its long- and short-term local-currency issuer default ratings at BBB-/F3. The outlook on the long-term local- and foreign-currency ratings is stable.

* Fitch affirmed Germany-based Opel Bank GmbH's long- and short-term issuer default ratings at BBB+/F2, with a stable outlook on the long-term rating, and assigned it a support rating of 2.

* Meanwhile, Fitch raised the viability rating of National Bank of Greece SA and Alpha Bank AE to "ccc+" from "ccc" and affirmed their long-term issuer default ratings, along with those of Piraeus Bank SA and Eurobank Ergasias SA, at Restricted Default.

* Fitch revised to stable from positive the outlook on the BB+ long-term foreign-currency issuer default ratings of Turkey's DenizBank AS and units Deniz Finansal Kiralama AS and JSC DenizBank Moscow. The agency affirmed the banks' B short-term foreign-currency issuer default ratings and 3 support ratings, and placed their BB+/B long- and short-term local-currency issuer default ratings on Rating Watch Positive.

* Moody's upgraded to B1 from B2 the long-term local- and foreign-currency deposit ratings of Russia-based PJSC Stock Commercial Bank Metallurgical Investment Bank and revised the outlook to stable from positive.

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.