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European ratings roundup through Aug. 7

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.

Aug. 7

* Fitch Ratings assigned Just Retirement (Holdings) Ltd. an insurer financial strength rating of A+ (Strong) and a long-term issuer default rating of A. The agency also assigned parent Just Group Plc a long-term issuer default rating of A. The outlooks on the ratings are stable.

* S&P Global Ratings placed the B long-term counterparty credit rating and kzBB Kazakhstan national scale rating of ATFBank JSC on CreditWatch with negative implications. The agency affirmed the bank's B short-term credit rating.

Aug. 4

* Moody's downgraded ICICI Bank Ltd. unit ICICI Bank UK Plc's long-term local- and foreign-currency deposit and senior unsecured debt ratings to Baa1 from A3, and changed the outlook to stable from positive. The agency also downgraded the bank's adjusted baseline credit assessment to "ba1" from "baa3" and its long-term counterparty risk assessment to Baa1(cr) from A3(cr), among other actions.

* S&P revised the outlook on Liverpool Victoria Friendly Society Ltd. units Liverpool Victoria Insurance Co. Ltd. and Highway Insurance Co. Ltd. to positive from stable. The agency also affirmed the units' long-term local-currency financial strength ratings at BBB+, and affirmed Liverpool Victoria Friendly Society's long-term local-currency counterparty credit and financial strength ratings at BBB+, with a stable outlook.

* S&P affirmed Albania's B+/B long- and short-term sovereign credit ratings. The outlook remains stable.

* Fitch affirmed Sweden's long-term foreign- and local-currency issuer default ratings at AAA, with a stable outlook. The agency also affirmed Sweden's country ceiling at AAA and its short-term foreign- and local-currency issuer default ratings at F1+.

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

* Fitch affirmed Azerbaijan's long-term foreign- and local-currency issuer default ratings at BB+, with negative outlooks. The agency also affirmed Azerbaijan's country ceiling at BB+ and its short-term foreign- and local-currency issuer default ratings at B.

* Fitch affirmed Macedonia's long-term foreign- and local-currency issuer default ratings at BB, with negative outlooks. The agency also affirmed Macedonia's country ceiling at BB+ and its short-term foreign- and local-currency issuer default ratings at B.

Aug. 3

* S&P revised the outlook on Permanent TSB Group Holdings Plc and Permanent TSB Plc to positive from stable. The agency affirmed the long- and short-term counterparty credit ratings of Permanent TSB Group Holdings and Permanent TSB at B+/B and BB/B, respectively.

* S&P assigned Georgia-based JSC Cartu Bank B/B long- and short-term counterparty credit ratings, with a stable outlook.

* S&P affirmed the A+ insurer financial strength and counterparty credit ratings of Covéa Coopérations and all other core or guaranteed entities of France-based SGAM Covéa, with a stable outlook.

* Fitch affirmed AEGON NV's long-term issuer default rating at A- and senior unsecured debt at BBB+, and affirmed the A+ (Strong) insurer financial strength ratings of its North American life insurance subsidiaries and unit Scottish Equitable Plc, with stable outlooks on the ratings. It also affirmed unit AEGON Bank NV's long- and short-term issuer default ratings at A-/F2 and its support rating at 1, with a stable outlook on the long-term rating.

* Fitch affirmed Hiscox Ltd. and Hiscox Plc's long-term issuer default rating at A-, as well as the insurer financial strength ratings of Hiscox Insurance Co. Ltd., Hiscox Insurance Co. (Guernsey) Ltd. and Hiscox Insurance Co. (Bermuda) Ltd. at A+. The outlooks on all the ratings are stable.

Aug. 2

* Moody's placed on review for upgrade Lloyds Banking Group Plc's Baa1 senior unsecured debt rating, as well as unit Lloyds Bank Plc's A1 long-term deposit and senior unsecured debt ratings and "baa1" baseline credit assessment. In addition, the agency upgraded Principality Building Society's long-term deposit and senior unsecured program ratings to (P)Baa2 from (P)Baa3, its baseline credit assessment to "baa2" from "baa3" and its long-term credit-risk assessment to A3(cr) from Baa1(cr), with a stable outlook on the ratings.

* Moody's also downgraded Leeds Building Society's baseline credit assessment to "baa1" from "a3" and its long-term deposit and senior unsecured ratings to A3 from A2, while changing the outlook on its long-term ratings to stable from negative, among other rating actions. At the same time, the rating agency changed its outlook on the deposit ratings of Coventry Building Society, Nationwide Building Society, Nottingham Building Society, Banco Santander SA unit Santander UK Plc and Banco de Sabadell SA unit TSB Bank Plc to stable from negative, while maintaining its stable outlook on Close Brothers Ltd., West Bromwich Building Society and Yorkshire Building Society.

* Fitch upgraded Banca Popolare di Vicenza SpA's long-term senior unsecured debt to BBB from CCC/RR4 and removed the rating from Rating Watch Positive. At the same time, the agency affirmed the bank's long- and short-term issuer default ratings at D, its viability rating at "f", its support rating at 5 and its support rating floor at No Floor, then subsequently withdrew the ratings. In addition, Fitch affirmed Banca Popolare di Vicenza and Veneto Banca SpA's state-guaranteed senior debt at BBB.

* S&P affirmed Portugal-based Haitong Bank SA's long- and short-term counterparty credit ratings at BB-/B and revised the outlook on the bank to negative from stable.

* S&P affirmed Exportno-importná banka Slovenskej republiky's A+/A-1 long- and short-term foreign- and local-currency issuer credit ratings, with a stable outlook.

* Moody's affirmed Scottish Widows Ltd.'s insurance financial strength rating at A2, with a stable outlook.

Aug. 1

* DBRS assigned Belgium-based BNP Paribas Fortis SA an R-1 (middle) short-term issuer rating, and confirmed parent BNP Paribas SA's AA (low)/R-1 (middle) long- and short-term issuer ratings and AA (low)/R-1 (middle) long- and short-term deposit ratings. At the same time, the agency affirmed BNP Paribas SA's AA (high) critical obligations rating and its short-term critical obligations rating at R-1 (high), while the intrinsic assessment and support designation were maintained at AA (low) and SA3, respectively. The trend on all the ratings is stable.

* S&P affirmed Bank of Ireland's counterparty credit ratings at BBB/A-2 and the long- and short- term counterparty credit ratings of its Ireland-based nonoperating holding company, Bank of Ireland Group Plc, at BBB/A-3. The outlook on the ratings is stable.

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