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EMEA ratings roundup, Sept. 7

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EMEA ratings roundup, Sept. 7

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

EUROPE

* S&P Global Ratings affirmed the A/A-1 long- and short-term issuer credit ratings of U.K.-based Housing Finance Corp Ltd., with a stable outlook. The ratings were removed from under criteria observation, where they had been since May 22.

* Moody's assigned first-time ratings to Germany-based Goldman Sachs AG, including A1/Prime-1 long- and short-term deposit and issuer ratings, with a negative outlook on the long-term ratings.

* Fitch Ratings affirmed the long- and short-term issuer default ratings of Italian government-related entities Cassa depositi e prestiti SpA and Poste Italiane SpA at BBB/F2 and those of Cassa del Trentino SpA at A-/F1, and revised the outlook on the long-term ratings to negative from stable.

* Moody's upgraded Cyprus Cooperative Bank Ltd.'s long-term local- and foreign-currency deposit ratings to Caa1 from Caa2 and its long-term counterparty risk rating to B2 from Caa2 and placed the ratings on review for further downgrade, while extending the review for upgrade of some of Hellenic Bank PCL's ratings, including its Caa1 long-term local- and foreign-currency deposit ratings and its "caa2" baseline and adjusted baseline credit assessments. The rating actions follow the withdrawal of Cyprus Cooperative Bank's banking license upon the completion of the transfer of its assets and customer deposits to Hellenic Bank.

* Fitch upgraded the viability ratings of Russia-based Primsotsbank and Levoberezhny to "bb-" from "b+" and affirmed those of LLC Bank Avers and JSCB Chelindbank at "bb-". The agency also upgraded the long-term foreign-currency issuer default rating of Primsotsbank and the long-term foreign- and local-currency issuer default rating of Levoberezhny to BB- from B+, while affirming other ratings of the four banks.

* ACRA assigned HSBC Bank (RR) LLC, the Russian unit of U.K.-based HSBC Holdings PLC, a credit rating of AAA(RU), with a stable outlook.

* Fitch affirmed the BBB-/F3 long- and short-term issuer default ratings of Slovenia-based Banka Intesa Sanpaolo d.d. and Hungary-based CIB Bank Zrt. — both units of Italy's Intesa Sanpaolo SpA — and revised the outlook on the long-term ratings to negative from stable. The rating agency also affirmed both lenders' support rating at 2.

* Fitch affirmed the long- and short-term issuer default ratings of Romania-based UniCredit Bank SA, Bulgaria-based UniCredit Bulbank AD and Croatia-based Zagrebacka Banka dd at BBB-/F3 and revised the outlook on the long-term ratings to negative from stable. The agency also affirmed the 2 support ratings of the three banks, which are subsidiaries of Italy's UniCredit SpA.

* DBRS confirmed Luxembourg's long- and short-term foreign- and local-currency issuer ratings at AAA/R-1 (high). The trend on the ratings remains stable.

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

* S&P affirmed Kazakhstan's long- and short-term foreign- and local-currency sovereign credit ratings at BBB-/A-3, with a stable outlook. The agency also affirmed the country's "kzAAA" national scale rating.

AFRICA

* Capital Intelligence Ratings upgraded Egypt's long-term foreign- and local-currency ratings to B+ from B and affirmed its B short-term foreign-and local-currency ratings. The outlook on the ratings was revised to stable from positive.

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.

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