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EMEA ratings roundup, Oct. 23

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


* DBRS Morningstar upgraded the long- and short-term issuer ratings of Permanent TSB Group Holdings PLC to BB (high)/R-3 from BB/R-4 and the same ratings of its unit, Permanent TSB PLC, to BBB (low)/R-2 (middle) from BB (high)/R-3. Additionally, the unit's long- and short-term deposits ratings were upgraded to BBB (low)/R-2 (middle), its long-term senior debt rating was upgraded to BBB (low) and its intrinsic assessment was raised to BBB (low) from BB (high). The trend on all the ratings is stable.

* S&P Global Ratings took rating actions on multiple Danish financial entities, including Danske Bank A/S, Danske Bank unit Danica Pension Livsforsikrings A/S, Danske Bank A/S Swedish Branch, Nykredit Realkredit A/S, Nykredit Bank A/S, Jyske Bank A/S, Jyske Realkredit A/S, DLR Kredit A/S and Danmarks Skibskredit A/S. The agency upgraded the issuer credit ratings of Jyske Bank and unit Jyske Realkredit to A/A-1 from A-/A-2, with the outlook changed to stable from positive, and their long-term resolution counterparty rating to A+ from A. Meanwhile, the agency changed the outlook on the long-term issuer credit ratings of Danske Bank, Danica Pension Livsforsikrings and Danske Bank A/S Swedish Branch to stable from negative, while the outlook on the same ratings for DLR Kredit was changed to stable from positive. The lenders' various other ratings were affirmed.

* Moody's acted on several German banking entities, including Debeka Bausparkasse AG, DZ Bank AG, Bausparkasse Schwäbisch Hall, DVB Bank SE, Kreissparkasse Köln, Münchener Hypothekenbank eG, Sparkassen-Finanzgruppe, Sparkassenverband Baden-Württemberg and Bausparkasse Mainz AG. The rating agency changed the outlook on the aforementioned companies — excluding Debeka Bausparkasse — to negative from stable following a change in the agency's assessment of Germany's macro profile to Strong (+) from Very Strong (-). Meanwhile, Debeka Bausparkasse's long-term deposit ratings were downgraded to Baa3 from Baa2, with the outlook remaining negative, and its baseline and adjusted baseline credit assessments were lowered to "ba1" from "baa3."

* Moody's revised the outlook on Russia's banking system to stable from positive, citing limited scope for improvement during the next 12 to 18 months in light of slow economic growth.

* Moody's changed the outlook on Poland-based Getin Noble Bank SA's long-term bank deposits rating to negative from rating under review, while confirming it at Caa1. The agency also confirmed its long-term counterparty risk rating and assessment at B2 and B2(cr), respectively, while affirming its baseline and adjusted baseline credit assessments at "ca," short-term counterparty risk rating and bank deposit rating at NP and its short-term counterparty risk assessment at NP(cr).

* Moody's affirmed the Ba3/Not Prime long- and short-term bank deposit ratings of Bank JSC Moscow Mortgage Agency, with a stable outlook on the long-term rating. Also affirmed were the Russian bank's "b1" baseline and adjusted baseline credit assessments, Ba2(cr)/Not Prime(cr) long- and short-term counterparty risk assessments, and Ba2/Not Prime long- and short-term counterparty risk ratings.

* Moody's affirmed Italy-based UniCredit SpA's Baa1/Prime-2 long- and short-term bank deposit and counterparty risk ratings. Also affirmed were the bank's Baa2(cr)/Prime-2(cr) long- and short-term counterparty risk assessments, "baa3" baseline and adjusted baseline credit assessments and Baa1 senior unsecured debt rating. The outlook on the long-term bank deposit rating and senior unsecured debt rating remains stable. The agency also affirmed the Baa1/Prime-2 long- and short-term counterparty risk ratings and Baa2(cr)/Prime-2(cr) long- and short-term counterparty risk assessments of UniCredit SpA London Branch and UniCredit SpA, New York Branch, along with affirming the latter's Baa1 long-term deposit ratings, with a stable outlook. Additionally, the agency affirmed UniCredit Bank Ireland PLC's backed senior unsecured debt rating at Baa1, with a stable outlook.

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