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In This List

EMEA ratings roundup, Oct. 11

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EMEA ratings roundup, Oct. 11

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

EUROPE

* Moody's affirmed Belgium's long-term issuer and senior unsecured debt ratings at Aa3. The outlook is stable.

* Fitch Ratings affirmed Uzbekistan's long- and short-term foreign- and local-currency issuer default ratings at BB-/B, with a stable outlook on the long-term ratings. The rating agency also affirmed its country ceiling and long-term senior unsecured debt rating at BB-.

* Fitch affirmed Latvia's long- and short-term foreign- and local-currency issuer default ratings at A-/F1, with a stable outlook on the long-term ratings. The rating agency also affirmed its country ceiling was at AAA.

* Fitch revised the outlook on Cyprus' long-term local- and foreign-currency issuer default ratings to positive from stable and affirmed the ratings at BBB-. The rating agency also affirmed Cyprus' short-term local- and foreign-currency issuer default ratings at F3 and the country ceiling at A, while the long-term senior unsecured debt rating was affirmed at BBB-. Fitch said the outlook change stems from the island's strong fiscal position and solid economic growth.

* S&P Global Ratings raised Georgia's long-term foreign- and local-currency sovereign credit ratings to BB from BB-, citing the country's improved economic resilience in recent years despite tough external conditions, and affirmed the country's short-term ratings at B. The rating agency said the country's outlook is stable.

* Fitch upgraded JSC Tinkoff Bank's long-term foreign- and local-currency issuer default ratings to BB from BB- and revised the outlook on the ratings to stable from positive. The rating agency also raised the Russian lender's viability rating to "bb" from "bb-" and its long-term senior unsecured rating to BB from BB-. Meanwhile, the bank's B short-term foreign-currency issuer default rating, 5 support rating and No Floor support rating floor were affirmed.

* Moody's upgraded Crédit Agricole Bank Polska SA's long-term bank deposit ratings to A3 from Baa1, with the outlook remaining stable. The agency also upgraded the Polish bank's baseline credit assessment to "ba1" from "ba2," adjusted baseline credit assessment to "baa2" from "baa3," long- and short-term counterparty risk assessments to A2(cr)/Prime-1(cr) from A3(cr)/Prime-2(cr) and long- and short-term counterparty risk ratings to A2/Prime-1 from A3/Prime-2. The Crédit Agricole Group unit's short-term bank deposit rating was affirmed at Prime-2.

* Moody's affirmed Italy-based FCA Bank SpA's long-term issuer rating and long-term bank deposits at Baa1, with a stable outlook on both ratings. The bank's short-term bank deposits were affirmed at P-2. The rating agency also affirmed the bank's long- and short-term counterparty risk ratings at Baa1/P-2 and the long- and short-term counterparty risk assessments at Baa2(cr)/P-2(cr). The bank's baseline and adjusted baseline credit assessments were affirmed at "ba1" and "baa3," respectively. Moody's also affirmed the Baa1/P-2 long- and short-term counterparty risk ratings and the Baa2(cr)/P-2(cr) long- and short-term counterparty risk assessments of FCA Bank's Irish branch.

AFRICA

* Fitch affirmed Ghana's long- and short-term foreign- and local-currency issuer default ratings at B, with a stable outlook on the long-term ratings. Ghana's B long-term senior unsecured debt rating and country ceiling were also affirmed.

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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.