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MEA ratings roundup through March 26

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MEA ratings roundup through March 26

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

March 23

* Moody's confirmed South Africa's Baa3 long-term issuer and senior unsecured ratings and changed the outlook to stable, concluding the review for downgrade that commenced Nov. 24, 2017.

* S&P Global Ratings affirmed Jordan's B+/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

* S&P affirmed the Republic of the Congo's CCC+/C long- and short-term foreign-currency sovereign credit ratings and B-/B local-currency ratings, with a stable outlook.

* S&P affirmed Kenya's B+/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

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

* Fitch Ratings affirmed Mozambique's long-term foreign-currency issuer default rating at RD, or Restricted Default. The rating agency also affirmed the country's long-term local-currency issuer default rating at CC, short-term foreign- and local-currency issuer default ratings at C and country ceiling at B-.

* Moody's affirmed Uganda's B2 long-term issuer ratings, with a stable outlook.

March 21

* Capital Intelligence Ratings affirmed Qatar National Bank QPSC's AA- financial strength rating and AA-/A1+ long- and short-term foreign-currency ratings.

* CI Ratings affirmed Capital Bank of Jordan's BB-/B long- and short-term foreign-currency ratings.

March 20

* S&P affirmed Saudi Arabia-based Co. for Cooperative Insurance (Tawuniya)'s A- long-term local-currency issuer credit and insurer financial strength ratings, with a stable outlook.

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.