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EMEA ratings roundup, Oct. 2

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EMEA ratings roundup, Oct. 2

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 assigned Italy-based Banca Farmafactoring SpA first-time Baa3/Prime-3 long- and short-term bank deposit ratings, with a positive outlook on the long-term rating. The rating agency also assigned the specialty lender a Ba1 long-term issuer rating with a positive outlook, "ba3" baseline and adjusted baseline credit assessments, Baa3/Prime-3 long- and short-term counterparty risk ratings and Baa3(cr)/Prime-3(cr) long- and short-term counterparty risk assessments.

* Moody's assigned first-time Baa2/Prime-2 long- and short-term foreign- and local-currency bank deposit and issuer ratings to Germany-based Oldenburgische Landesbank AG, with a stable outlook on the long-term rating. The rating agency also assigned the German lender long- and short-term counterparty risk ratings and counterparty risk assessments of Baa1/Prime-2 and A3(cr)/Prime-2(cr), respectively, as well as baseline and adjusted baseline credit assessments of "baa3".

* Fitch Ratings affirmed the AAA/F1+ long- and short-term issuer default ratings of four German development banks, Investitionsbank Berlin, Investitionsbank Schleswig-Holstein, Landeskreditbank Baden-Württemberg – Förderbank and Landwirtschaftliche Rentenbank, with a stable outlook on their long-term ratings. The rating agency also affirmed the four banks' 1 support rating. Additionally, Fitch affirmed Landwirtschaftliche Rentenbank AAA support floor rating and AAA(dcr) derivative counterparty rating, along with its AAA/F1+ long- and short-term senior unsecured debt rating and AAA long-term subordinated debt rating.

MIDDLE EAST

* Fitch affirmed the BB-/B long- and short-term issuer default ratings of Bahrain-based BBK BSC and National Bank of Bahrain BSC, with a stable outlook on the long-term ratings. The agency also affirmed the lenders' "bb-" viability rating, 3 support rating and BB- support rating floor. BBK's long-term senior unsecured debt rating was also affirmed at BB-.

* Fitch affirmed the AA-/F1+ long- and short-term issuer default ratings of Saudi Arabia-based Islamic Corp. for the Development of the Private Sector, with a stable outlook on the long-term rating. The ratings action stems from the expected support the bank will get from its shareholders.

AFRICA

* Fitch affirmed the BB+/B long- and short-term issuer default ratings and AAA(ken) national long-term rating of Burundi-based Eastern and Southern African Trade and Development Bank, with a stable outlook on the long-term ratings. The agency also affirmed its BB+/B long- and short-term senior unsecured debt ratings.

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