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EMEA ratings roundup, Dec. 11

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EMEA ratings roundup, Dec. 11

S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions. This feature excludes previously reported stories.

EUROPE

* Fitch Ratings affirmed U.K.-based Together Financial Services Ltd.'s BB/B long- and short-term issuer default ratings, with a stable outlook. The agency also affirmed and subsequently withdrew the BB- long-term issuer default rating of Together's indirect holding company Bracken Midco1 PLC. The outlook was also stable prior to withdrawal.

* Fitch upgraded Spain-based Criteria Caixa SAU's long- and short-term issuer default ratings and senior unsecured debt ratings to BBB+/F1 from BBB/F2. The outlook on the long-term issuer default rating was revised to stable from positive.

* Moody's affirmed the long- and short-term bank deposit ratings of Cecabank SA at Baa2/Prime-2, with a stable outlook. Also affirmed were the Spanish lender's long- and short-term Baa1/Prime-2 counterparty risk ratings and Baa1(cr)/P-2(cr) counterparty risk assessments as well as its "ba1" baseline and adjusted baseline credit assessments.

* S&P Global Ratings affirmed the long- and short-term issuer credit ratings of Swedish local government funding agency Kommuninvest i Sverige AB (publ) at AAA/A-1+, with a stable outlook, as well as its K-1 short-term Nordic regional scale rating.

* ACRA affirmed Russia-based PAO AK BARS Bank's A-(RU) credit rating and changed the outlook to positive from stable.

MIDDLE EAST

* Moody's downgraded the baseline and adjusted baseline credit assessment of Lebanon-based Bank Audi SAL, Blom Bank SAL and Byblos Bank SAL "ca" from "caa2." The banks' Caa3/Caa2 foreign- and local-currency deposit ratings remain on review for downgrade.

AFRICA

* Moody's downgraded the long-term local-currency bank deposit rating of Banco Económico SA to Caa1 from B3 and revised the outlook to negative from stable. The agency also downgraded the Angolan bank's long-term counterparty risk ratings to Caa1 from B3, its long-term counterparty risk assessment to Caa1(cr) from B3(cr) and its baseline and adjusted baseline credit assessments to "ca" from "caa2."

Its Caa1 long-term foreign-currency bank deposit rating was affirmed with the outlook also revised to negative from stable. Banco Económico's short-term bank deposit and counterparty risk ratings were affirmed at Not Prime along with its Not Prime(cr) short-term counterparty risk assessment.

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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.