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European ratings roundup through March 19

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European ratings roundup through March 19

S&P Global Market Intelligence presents a weekly overview of ratings actions on European financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.

March 19

* S&P Global Ratings affirmed the AA-/A-1+ long- and short-term issuer credit ratings of NRW.Bank and Erste Abwicklungsanstalt and revised the outlook on both German entities to positive from stable.

* S&P downgraded France-based Oney Bank SA's long-term issuer credit rating to BBB from BBB+, with a stable outlook, and affirmed the bank's A-2 short-term issuer credit rating.

* Moody's placed on review for downgrade the A3 long-term deposit rating, "baa2" baseline and adjusted baseline credit assessments and A2(cr)/Prime-1(cr) long- and short-term counterparty risk assessments of Netherlands-based GarantiBank International NV, a unit of Banco Bilbao Vizcaya Argentaria SA. At the same time, Moody's affirmed the lender's Prime-2 short-term deposit rating.

* Fitch Ratings affirmed the A-/F1 long- and short-term issuer default ratings and "bb" viability rating of Norddeutsche Landesbank Girozentrale, with a negative outlook on the long-term issuer default rating. The bank's 1 support rating and A-/F1 deposit ratings were also affirmed.

* S&P affirmed France-based Carrefour Banque SA's BBB+/A-2 long- and short-term issuer credit ratings, with a stable outlook.

* S&P kept Russia-based Vozrozhdenie Bank's B long-term issuer credit rating on CreditWatch with negative implications and affirmed the bank's B short-term issuer credit rating.

March 17

* DBRS confirmed France's AAA/R-1 (high) long- and short-term foreign- and local-currency issuer ratings, with stable trends.

March 16

* Fitch revised the outlook on Georgia's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed the rating at BB-.

* Moody's raised Belarus' issuer and senior unsecured ratings to B3 from Caa1 with a stable outlook.

* S&P affirmed the A-/A-2 long- and short-term issuer credit ratings of Jyske Bank A/S and subsidiary BRFkredit A/S, with stable outlooks. The agency also affirmed Jyske Bank's K-1 short-term Nordic regional scale rating.

* S&P affirmed Montenegro's B+/B long- and short-term foreign- and local-currency sovereign credit ratings on Montenegro and Austria's AA+/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings. The outlooks are stable.

* S&P also affirmed Denmark's AAA/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook, and Cyprus' BB+/B long- and short-term foreign- and local-currency sovereign credit ratings, with a positive outlook.

* S&P affirmed Finland's AA+/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings of Finland, Portugal's BBB-/A-3 unsolicited foreign- and local-currency long- and short-term sovereign credit ratings and Luxembourg's AAA/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings. The outlooks are stable.

* S&P also affirmed Macedonia's BB-/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook on the long-term ratings.

* Fitch affirmed Italy's BBB/F2 long- and short-term local- and foreign-currency issuer default ratings and AA country ceiling. The outlook on the long-term ratings is stable.

* Fitch affirmed the BBB-/F3 long- and short-term issuer default ratings of Russia-based International Bank for Economic Co-operation. The outlook on the long-term rating is stable.

March 15

* Moody's affirmed the B1 foreign-currency senior unsecured debt and long-term local-currency bank deposit ratings of Armenia-based Industrial Construction Bank CJSC or Ardshinbank, and changed the outlooks to positive from stable. The agency also affirmed the bank's B2 long-term foreign-currency bank deposit rating, Not Prime short-term bank deposit rating, "b1" baseline and adjusted baseline credit assessments, and Ba3(cr)/Not Prime(cr) long- and short-term counterparty risk assessments. The outlook on the long-term foreign-currency bank deposit rating remains stable.

* Fitch published Old Mutual Plc unit Old Mutual Wealth Management Ltd.'s long-term issuer default rating at A-, with a stable outlook.

* DBRS upgraded the long-term issuer and senior debt ratings of KBC Group NV to A, and confirmed the group's short-term issuer and debt ratings at R-1 (low). The agency also upgraded KBC Bank NV's long-term issuer, senior debt and deposit ratings to A (high) and the short-term issuer, debt and deposit ratings to R-1 (middle); and certain of Ceskoslovenská obchodná banka a.s.' ratings. The trends on all the ratings are stable.

* S&P downgraded Prudential PLC's long-term issuer credit ratings to A from A+ and unit Prudential Assurance Co. Ltd.'s long-term issuer credit rating to A+ from AA. The agency affirmed Prudential's short-term ratings at A-1. The outlooks on the two entities are stable.

March 14

* Fitch also downgraded Prudential PLC's long-term issuer default ratings to A from A+, with a stable outlook, and unit Prudential Assurance Co. Ltd.'s long-term insurer financial strength rating to AA- from AA. Prudential PLC's F1 short-term issuer default rating was affirmed and its senior debt rating was downgraded to A- from A.

* Meanwhile, Moody's affirmed Prudential PLC's A2 senior unsecured debt rating and Prudential Assurance Co. Ltd.'s Aa3 insurance financial strength rating.

* Moody's affirmed Berner Kantonalbank's Aa1/P-1 deposit ratings, A1 senior unsecured debt ratings, "a1" baseline and adjusted baseline credit assessments and Aa3(cr)/P-1(cr) counterparty risk assessments.

March 13

* S&P assigned Barclays Bank UK PLC A/A-1 long- and short-term issuer credit ratings, with a stable outlook. The bank is a new unit of Barclays PLC that will house business "ring-fenced under a U.K. legislation requiring the separation of domestic retail and similar business.

* S&P revised to positive from stable the outlooks on Russian insurers JSC SOGAZ, Ingosstrakh Insurance Co. Ltd. and OAO Reso Garantia. All three companies' ratings were also affirmed.

* DBRS confirmed the A (low)/R-1 (low) long- and short-term issuer ratings of Credit Suisse Group AG and the ratings of Credit Suisse AG, with stable trend on all the ratings.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.