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EMEA ratings roundup, May 31

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 upgraded the long-term issuer credit rating of Cecabank SA to BBB+ from BBB and the long- and short-term issuer credit ratings of Caja Laboral-Euskadiko Kutxa to BBB/A-2 from BBB-/A-3, while affirming certain ratings of other Spanish banks. The outlook on the two lender's long-term ratings were revised to stable from positive.

* S&P Global Ratings lowered the long- and short-term issuer credit ratings on Euronext NV to A-/A-2 from A/A-1 and removed the ratings from CreditWatch with negative implications. The outlook on the long-term issuer credit rating is stable.

* Fitch Ratings downgraded Credito Emiliano SpA's short-term issuer default rating to F3 from F2, resolving the under criteria observation status on the rating. The agency also affirmed the Italian bank's BBB long-term issuer default rating, with a negative outlook, among other ratings.

* Fitch affirmed Banco di Desio e della Brianza SpA's long- and short-term issuer default ratings at BBB-/F3, with a stable outlook on the long-term rating. Its long-term deposit rating of BBB-, viability rating of "bbb-," support rating of 5, and support rating floor of No Floor were also affirmed.

* Fitch affirmed Banca Popolare dell'Alto Adige SpA's long- and short-term issuer default ratings at BB+/B, with a stable outlook on the long-term rating. It also affirmed the Italian bank's long-term deposit rating at BB+, viability rating at "bb+," support rating at 5, and support rating floor at No Floor.

* DBRS confirmed DZ BANK AG's long-term and short-term issuer ratings at A (high)/R-1 (middle). The trend on the long-term ratings remains positive, while that on the short-term ratings remains stable. The German group's intrinsic assessment remains A (high) and its support assessment is SA3.

* Fitch affirmed Intrum AB's long-term issuer default rating at BB, with a stable outlook. The agency also affirmed the Swedish credit management group's short-term issuer default rating at B and senior unsecured long-term debt rating at BB.

* S&P Global Ratings affirmed and subsequently withdrew France-based Crédit Mutuel Arkéa SACC's A/A-1 long- and short-term issuer credit ratings and A+/A-1 long- and short-term resolution counterparty ratings. The outlook on the long-term issuer credit rating was negative prior to withdrawal.

* DBRS confirmed Crédit Logement SA's long- and short-term issuer ratings at AA (low)/R-1 (middle), with stable trends on all the ratings.

* DBRS confirmed DZ BANK AG's long-term and short-term issuer ratings at A (high)/R-1 (middle). The trend on the long-term ratings remains positive, while that on the short-term ratings remains stable. The German group's intrinsic assessment remains A (high) and its support assessment is SA3.

* Fitch affirmed the long- and short-term foreign- and local-currency issuer default ratings of Georgia-based JSC MFO Crystal and JSC Microfinance Organisation Swiss Capital at B/B and B-/B, respectively, with stable outlooks on the long-term ratings.

* ACRA upgraded the credit rating of Russia-based Maritime Joint-Stock Bank (JSC) to B+(RU) from B(RU), with a stable outlook on the long-term rating.

* Moody's affirmed Latvia's senior unsecured and long-term issuer ratings at A3, with a stable outlook on the long-term rating. The agency also affirmed the country's short-term foreign-currency rating at (P)P-2.

* Fitch affirmed Austria's long-and short-term foreign-and local-currency issuer default ratings at AA+/F1+, with a positive outlook on the long-term ratings. Its long- and short-term senior unsecured ratings of AA+/F1+ and country ceiling of AAA were also affirmed.

MIDDLE EAST

* Capital Intelligence Ratings lowered Jordan's long-term foreign-currency rating to B+ from BB- and its long-term local-currency rating to B+ from BB, affirmed its short-term foreign- and local-currency ratings at B and revised the outlook for all the ratings to stable from negative.

AFRICA

* S&P Global Ratings assigned B/B long- and short-term foreign- and local-currency sovereign credit ratings to Togo, with a stable outlook on the long-term rating.

* Fitch affirmed Stanbic Bank Kenya Ltd.'s long- and short-term issuer default ratings at BB-/B, its national long- and short-term ratings at AAA(ken)/F1+(ken), its support rating at 3 and its viability rating at "b," with stable outlooks on the long-term ratings.

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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.