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EMEA ratings roundup, Dec. 12

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 kept the stable outlook for European and British banks, citing stronger balance sheets and gradual monetary policy normalization in the bloc amid slowing economic growth and weak profitability, as well as improved bank solvency in the U.K. despite uncertainty over the impact of Brexit and sluggish operating conditions.

* S&P Global Ratings affirmed DEPObank - Banca Depositaria Italiana SpA's long- and short-term issuer credit ratings at BB-/B and removed them from CreditWatch with developing implications, where they were placed in May. The outlook on the long-term ratings is stable.

* Moody's upgraded JSC Altyn Bank's long-term local- and foreign-currency bank deposit ratings to Ba1 from Ba2, with a stable outlook, and its adjusted baseline credit assessment to "ba1" from "ba2." The agency also upgraded the Kazakh lender's long- and short-term counterparty risk ratings to Baa3/Prime-3 from Ba1/Not Prime and its long- and short-term counterparty risk assessments to Baa3(cr)/Prime-3(cr) from Ba1(cr)/Not Prime(cr), among other ratings.

* Moody's said the outlook for Nordic banks is stable, citing expectations that operating conditions will continue to support lenders in 2019 on the back of solid economic growth across the region.

AFRICA

* Fitch Ratings downgraded Tunisie Leasing & Factoring SA's national long-term and national senior unsecured debt ratings to BBB(tun) from BBB+(tun) and its national short-term rating to F3(tun) from F2(tun). Meanwhile, the agency upgraded Union de Factoring's national long-term and senior unsecured debt ratings to BB+(tun) from BB(tun) while affirming its national short-term rating at B(tun). The outlook on the national long-term ratings is stable. The AA+(tun)/F1+(tun) national long- and short-term ratings and AA+(tun) national senior unsecured debt rating of Arab International Lease were maintained on Rating Watch Negative. The ratings of Tunisian leasing firms Arab Tunisian Lease SA, Attijari Leasing SA, Compagnie Internationale de Leasing SA, Hannibal Lease SA and Société Modern Leasing were affirmed.

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This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.