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EMEA ratings roundup, Dec. 14

S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.

EUROPE

* S&P Global Ratings affirmed the BB+/B long- and short-term issuer credit ratings of Slovenia's Nova Ljubljanska banka d.d. and revised the outlook on the long-term rating to positive from developing.

* S&P revised its ratings outlook on Serbia to positive from stable, citing the country's strong economic growth that is expected to continue through 2021.

* DBRS confirmed the U.K.'s long- and short-term foreign- and local-currency issuer ratings at AAA/R-1(high), with a stable trend on all ratings.

* Fitch affirmed the long- and short-term issuer foreign- and local-currency issuer default ratings of Ireland at A+/F1+, with stable outlooks on the long-term ratings. Fitch also affirmed Ireland's country ceiling at AAA.

* DBRS confirmed the AAA/R-1(high) long- and short-term foreign- and local-currency issuer ratings of Denmark, with a stable trend. Separately, Fitch affirmed Denmark's AAA long-term foreign-currency issuer default rating, with a stable outlook.

* S&P affirmed the long- and short-term foreign- and local-currency sovereign credit ratings of Slovenia, with the long-term ratings carrying a positive outlook.

* DBRS confirmed the AA(low)/R-1(middle) long- and short-term foreign- and local-currency issuer ratings of Estonia, with a stable trend.

* Fitch affirmed Turkey's long-term foreign- and local-currency issuer default ratings, respectively, at BB and BB+, with negative outlooks. Also affirmed were the nation's B short-term foreign- and local-currency issuer default ratings and its BB+ country ceiling.

* Fitch Ratings upgraded several ratings of Royal Bank of Scotland Group PLC and certain units, citing the British banking group's improved risk profile. The agency upgraded the long- and short-term issuer default ratings of the group, Royal Bank of Scotland International Ltd., NatWest Markets PLC, NatWest Markets NV and NatWest Markets Securities Inc. to A/F1 from BBB+/F2. Those of Royal Bank of Scotland PLC, National Westminster Bank PLC and Ulster Bank Ltd. were upgraded to A+/F1 from A-/F2. The outlook on the long-term ratings is stable.

* Moody's downgraded the long-term bank deposit ratings of Getin Noble Bank SA to B2 from B1 and revised the outlook on the rating to negative. The rating was previously lowered from Ba3 and was placed on review for further downgrade on Oct. 10. Moody's also lowered the Polish lender's baseline and adjusted baseline credit assessments to "caa1" from "b3" and its long-term counterparty risk rating and assessment, respectively, to B1 and B1(cr) from Ba3 and Ba3(cr). Moody's also affirmed the bank's Not Prime short-term bank deposit and counterparty risk ratings and its NP (cr) short-term counterparty risk assessment.

* Moody's acted on CYBG PLC and Virgin Money PLC, including assigning the former a long-term issuer ratings of Baa3 with a positive outlook and confirming its Baa3 subordinated debt rating. The long-term issuer and bank deposit ratings of Virgin Money PLC were upgraded to Baa1 from Baa2, with the outlook revised to positive. Moody's also upgraded Virgin Money PLC's long- and short-term counterparty risk ratings to A2/P-1 from Baa1/P-2 and its long- and short-term counterparty risk assessments to A2(cr)/P-1(cr) from A3(cr)/P-2(cr), while confirming its "baa2" baseline and adjusted baseline credit assessments. Its short-term issuer and bank deposit ratings were affirmed at P-2.

* At the same time, Moody's confirmed CYBG unit Clydesdale Bank PLC's long-term bank deposit ratings at Baa1, with the outlook changed to positive. Its "baa2" baseline and adjusted baseline credit assessments, A2/P-1 long- and short-term counterparty risk ratings and A2(cr)/P-1(cr) long- and short-term counterparty risk assessments were confirmed, while its short-term bank deposit ratings were affirmed at P-2. The long-term issuer and senior unsecured debt ratings of Virgin Money Holdings (UK) PLC were confirmed at Baa3, with the outlook changed to positive. Its short-term issuer ratings were confirmed at P-3.

* Moody's affirmed the Ba3 long-term bank deposit ratings of Alpha Bank Romania SA and revised its outlook to positive from stable. The bank's baseline credit assessment was affirmed at "b2."

* Fitch affirmed several ratings of Lloyds Banking Group PLC, Lloyds Bank PLC, HBOS PLC and Bank of Scotland PLC, including their A+/F1 long- and short-term issuer default ratings, with the long-term ratings carrying a stable outlook. The agency also affirmed the viability rating of "a" and support rating of 5 of Lloyds Banking Group, Lloyds Bank and Bank of Scotland, while the support rating of HBOS was affirmed at 1.

* Fitch affirmed the A/F1 long- and short-term issuer default ratings of Santander UK Group Holdings PLC, Santander UK PLC and Abbey National Treasury Services PLC. The outlooks on the long-term ratings of Santander UK Group and Abbey National Treasury Services were kept at stable, while that on Santander UK's was maintained of Rating Watch Positive. Fitch also affirmed all three entities' viability ratings at "a" and their support rating at 2, among other ratings.

* Fitch affirmed the long- and short-term issuer default ratings of Nationwide Building Society at A/F1, with a stable outlook on the long-term rating. The agency also affirmed Nationwide's long- and short-term deposit ratings at A+/F1, viability rating at "a," support rating at 5 and support rating floor at No Floor, among others.

* Fitch affirmed the BB/B long- and short-term issuer default ratings of Together Financial Services Ltd., with a stable outlook on the long-term rating. Also affirmed were Bracken Midco1 PLC's BB- long-term issuer default ratings, with a stable outlook, and Jerrold Finco PLC's BB senior unsecured debt ratings.

* Moody's affirmed the Aaa long-term issuer ratings of the European Investment Fund and maintained the stable outlook on the rating.

MIDDLE EAST

* Capital Intelligence Ratings affirmed Saudi Arabia's A+/A1 long- and short-term foreign- and local-currency issuer ratings and revised the outlook on the long-term ratings to stable from negative.

AFRICA

* S&P affirmed the B/B long- and short-term foreign- and local-currency sovereign credit ratings of Uganda, with stable outlooks.

* S&P affirmed Senegal's B+/B long- and short-term foreign- and local-currency sovereign credit ratings, with a positive outlook on the long-term rating.

* Fitch affirmed the B/B long- and short-term issuer default ratings of Cape Verde, with stable outlooks on the long-term ratings. Cape Verde's B+ country ceiling was also affirmed.

* CI Ratings affirmed Banque de Tunisie SA's BB+ financial strength rating and revised the outlook on the rating to negative. The rating agency also affirmed the financial strength ratings of Union Bancaire pour le Commerce et l'Industrie SA and Société Tunisienne de Banque at BB and B+, respectively.

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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.