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European ratings roundup through Oct. 3

S&P Global MarketIntelligence presents a weekly overview of ratings actions on Europeanfinancial institutions and economies. Ratings actions are listed byannouncement date in reverse chronological order.

Oct. 3

* Moody's withdrew Joint-Stock Commercial Innovation Bank Obrazovanie JSC'sratings, including its B3 long-term local- and foreign-currency deposit ratings.

* Moody's withdrew the ratings of , including itsB3/Not-Prime local- and foreign-currency deposit ratings.

* Fitch Ratings revised the outlook on 's long-term issuerdefault rating to stable from positive and affirmed it at BBB+. Fitch alsoaffirmed the Virgin Money Holdings(UK) Plc unit's F2 short-term issuer default rating, 5 supportrating and "bbb+" viability rating.

* S&P Global Ratings revised the outlook on Kazakhstan-based to stablefrom negative, while affirming its BBB-/A-3 long- and short-termforeign-currency issuer credit ratings, "kzAA" Kazakhstan nationalscale rating and "ruAAA" Russia national scale rating.

 *S&P affirmedcertain Commercial Bank AljbaAlliance LLC ratings and subsequently withdrew them at the lender'srequest. Among others, the agency affirmed the bank's long- and short-termcounterparty credit ratings at B and its Russia national scale ratings at"ruBBB+".

* S&P and Fitch withdrew Iccrea Holding SpA's ratings following its merger intosubsidiary Iccrea BancaSpA. S&P affirmed and withdrew Iccrea Holding's BB/B long- andshort-term counterparty credit ratings. The outlook was stable at the time ofwithdrawal. S&P also affirmed Iccrea Banca and 's long- andshort-term counterparty credit ratings at BB/B, with stable outlooks, andassigned a stand-alone credit profile of "bb" to Iccrea Banca. Fitchwithdrew Iccrea Holding's long-term issuer default rating of BBB- with anevolving outlook, as well as its F3 short-term issuer default rating,"bbb-" viability rating, 5 support rating and No Floor support ratingfloor.

* Fitch affirmed the Along-term issuer default ratings of Close Brothers Group Plc and wholly owned bankingsubsidiary Close BrothersLtd., with stable outlooks. Also affirmed were the firms' "a"viability ratings, F1 short-term issuer default ratings, 5 support ratings andNo Floor support rating floors.

* Fitch affirmed 's and parentCYBG Plc's long-termissuer default ratings at BBB+. The outlooks are stable. Fitch also affirmedthe firms' F2 short-term issuer default ratings, "bbb+" viabilityratings, 5 support ratings and No Floor support rating floors.

* Fitch affirmed 's BBBlong-term issuer default rating, with a stable outlook, along with theInvestec Plc unit's"bbb" viability rating, F2 short-term issuer default rating, 5support rating and No Floor support rating floor.

Sept. 30

* DBRS lowered Banca Monte dei Paschi di Siena SpA's senior long-termdebt and deposit rating to B (high) from BB and changed the bank's intrinsicassessment to B (high). The lender's short-term debt and deposit rating remainsat R-4 and its long- and short-term critical obligations ratings remain at BBB(low)/R-2 (middle). However, all ratings are still under review with negativeimplications.

* S&P affirmed its BB-/B long- and short-term counterpartycredit ratings on Banca Popolaredell'Emilia Romagna SC and withdrew them at the issuer's request.The rating agency had a positive outlook on the bank at the time of thewithdrawal.

* DBRS confirmed CréditAgricole SA's issuer rating and senior long-term and depositsrating at A (high) and revised the trend on the long-term ratings to positivefrom stable. The agency also confirmed Crédit Agricole Group's issuer rating at A (high) andrevised the trend to positive from stable. The short-term ratings of bothentities were confirmed at R-1 (middle) with stable trends.

* S&P revised the outlook on Finnish municipal funding agencyKuntarahoitus Oyj tostable from negative. It also affirmed Kuntarahoitus Oyj's AA+/A-1+ long- andshort-term issuer credit ratings.

* Fitch affirmed the long-termissuer default ratings of BancaIntesa JSC at BBB-, JSCB RosEvroBank (JSC) at BB- and at B+. The outlook on Banca Intesa is negative, whilethose on RosEvroBank and Peresvet Bank are stable. The agency also affirmedother ratings of the three lenders.

* Fitch affirmed 's long-termissuer default rating at BBB-. The outlook is stable.

* Fitch affirmed 's and 's long- andshort-term issuer default ratings at BBB and F3, respectively. The outlooks arestable.

* Fitch affirmed Georgia'slong-term foreign- and local-currency issuer default ratings at BB- with stableoutlooks. The country ceiling was affirmed at BB and the short-term foreign-and local-currency issuer default ratings at B.

* S&P affirmedthe B-/C long- and short-term counterparty credit ratings on . The outlook remainsstable. The agency also affirmed the "kzBB-" Kazakhstan nationalscale rating on the bank.

Sept. 29

* S&P affirmed JSC Bank of Georgia's long- and short-term counterpartycredit ratings at BB-/B and subsequently withdrew the ratings at the unit's request.The outlook was stable at the time of withdrawal.

* Fitch downgraded Lider Faktoring AS' national long-term rating to A-(tur)from A(tur), with a stable outlook. The agency affirmed the national long-termratings of Turkish factoring companies Kapital Faktoring AS, Destek FaktoringAS, Eko Faktoring AS and Optima Faktoring Hizmeteleri AS.

* Fitch upgraded the viability ratings of , and CIB Bank'sviability rating was upgraded to "b" from "b-", K&HBank's to "bb+" from "bb" and Erste Bank Hungary's to"b+" from "b". The agency also affirmed the long- andshort-term issuer default ratings of K&H Bank and Erste Bank Hungary atBBB/F2 and of CIB Bank at BBB-/F3. All three banks' support ratings wereaffirmed at 2. The outlooks on the long-term issuer default ratings of theKBC Group NV,Erste Group Bank AGand Intesa SanpaoloSpA units are stable.

* Fitch affirmed 's and Coface Ré SA's insurer financial strength ratings atAA-. Fitch also affirmed Compagnie Francaise d'Assurance pour le CommerceExterieur's A+ long-term issuer default rating and Coface SA's A+/F1 long- and short-term issuer defaultratings. The outlooks on the long-term ratings are stable.

Sept. 28

* S&P revised the outlook on to negativefrom stable and affirmed the bank's BBB+/A-2 long- and short-term counterpartycredit ratings.

* DBRS downgraded Caixa Económica Montepio Geral's senior long-term debtand deposit rating to BB from BB(high) and its short-term debt and depositrating to R-4 from R-3. The intrinsic assessment is now BB, with a stable trendon all ratings.

* Moody's maintained the outlook on Poland's banking systemat stable.

* Fitch affirmed 's andPhoenix Life AssuranceLtd.'s insurer financial strength ratings at A with positiveoutlooks. Fitch also affirmed the A- long-term issuer default rating ofPhoenix GroupHoldings with a positive outlook.

* Fitch affirmed the AA insurerfinancial strength and AA- long-term issuer default rating of 's . It also affirmed the AAinsurer financial strength ratings of Allianz's main subsidiaries. The outlooksare stable.

Sept. 27

* Moody's upgraded JSC ForteBank's long-term local- and foreign-currencydeposit ratings to B3 from Caa1 and its senior unsecured debt ratings to Caa1from Caa2. The outlooks are stable. The agency also affirmed the Kazakh bank'sshort-term foreign-currency deposit ratings at Not Prime. ForteBank's baselineand adjusted baseline credit assessments were upgraded to "caa1" from"caa2". Moody's also upgraded the long-term counterparty riskassessment to B2(cr) from B3(cr) and affirmed the short-term counterparty riskassessment at Not Prime(cr).

* Moody's upgraded the insurance financial strength rating ofBupa's to A1 fromA2. The outlook was changed to stable from positive.

*Moody's assigned Banca Popolare dell'Emilia Romagna a Baa3long-term bank deposit rating, Ba2 long-term issuer rating and "ba3"stand-alone baseline credit assessment. The outlook is stable on the depositrating and negative on the issuer rating. The bank was also assigned long- andshort-term counterparty risk assessments of Baa3(cr)/P-3(cr) and P-3 short-termdeposit ratings.

* S&P affirmedthe BB-/B long- and short-term counterparty credit ratings on . The outlookremains negative.

* DBRS confirmedBanco Popular EspañolSA's ratings, including its senior unsecured long-term debt anddeposit rating at BBB (high), its short-term debt and deposits rating at R-1(low) and its subordinated debt rating of BBB. DBRS also confirmed the long-and short-term critical obligations ratings at A/R-1 (low). All ratings have astable trend.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.