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.
* Fitch Ratings affirmed the long- and short-term issuer default ratings of Magyar Export-Import Bank Zrt. and MFB Magyar Fejlesztési Bank Zrt. at BBB-/F3, while also affirming the same ratings of Erste Bank Hungary Zrt. and K&H Bank Zrt. at BBB/F2, and revised the outlook on all the long-term ratings to positive from stable. The rating agency also affirmed certain other ratings of the four Hungarian lenders, including the BBB- long-term senior unsecured debt ratings of Hungarian Export Import Bank and MFB Hungarian Development Bank.
* S&P Global Ratings affirmed the AA-/A-1+ long- and short-term issuer credit ratings of SIX Group AG, SIX x-clear AG and SIX SIS AG and revised the outlook on all the long-term ratings to negative from stable. At the same time, the rating agency downgraded the long-term issuer credit rating of SIX Payment Services (Austria) GmbH to A+ from AA- and revised the outlook on the rating to negative from stable. The Austrian unit's A-1+ short-term issuer credit rating was affirmed.
* Fitch affirmed Bank of Valletta Plc's BBB long-term issuer default rating, with a stable outlook. The rating agency also affirmed the bank's F2 short-term issuer default rating, "bbb" viability rating, 5 support rating and No Floor support rating floor.
* Moody's downgraded Credito Valtellinese SpA's long-term bank deposit rating to Ba3 from Ba2, its long-term counterparty risk assessment to Ba3(cr) from Ba2(cr) and its baseline and adjusted baseline credit assessments to "caa1" from "b2," and changed the outlook on the long-term ratings to developing from rating under review, concluding the review for downgrade initiated Oct. 4. At the same time, the agency affirmed the bank's short-term bank deposit rating and short-term counterparty risk assessment at NP and NP(cr), respectively.
* Moody's upgraded Unipol Banca SpA's long-term deposit rating to Ba1 from Ba2, its long-term counterparty risk assessment to Ba1(cr) from Ba2(cr), its baseline credit assessment to "b2" from "caa1" and its adjusted baseline credit assessment to "b1" from "b2" and revised the outlook on the long-term deposit rating to negative from rating under review, concluding the review for upgrade initiated July 7. In addition, the agency confirmed the bank's short-term counterparty risk assessment at NP(cr) and its short-term bank deposit rating at NP.
* DBRS assigned Slovenia long- and short-term foreign- and local-currency issuer ratings of A/R-1 (low), with a stable trend on all the ratings.
* Moody's extended its review for downgrade on EAA Covered Bond Bank Plc's Aa1 backed long-term deposit ratings and P-1 short-term backed deposit ratings.
* Fitch affirmed Santander Consumer Finance SA's A- long-term issuer default and senior unsecured debt ratings, F2 short-term issuer default rating, 1 support rating and "bbb+" viability rating, with a stable outlook on the long-term issuer default rating.
* S&P affirmed Zagrebacka Banka d.d.'s BB long-term issuer credit rating, with a positive outlook.
* S&P affirmed its unsolicited AAA/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings on Switzerland, with a stable outlook.
* S&P affirmed its unsolicited AAA/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings on the Netherlands, with a stable outlook.
* S&P revised to stable from negative the outlooks on Barclays Plc and core U.K. bank units Barclays Bank Plc, Barclays Services Ltd., Barclays Bank Ireland Plc, Barclays Capital Inc. and Barclays Bank UK PLC; CYBG Plc and core unit Clydesdale Bank Plc; HSBC Holdings Plc and unit HSBC Bank Plc; Lloyds Banking Group Plc and unit HBOS Plc; Nationwide Building Society; Santander UK Plc and Royal Bank of Scotland Group Plc units Royal Bank of Scotland Plc, Royal Bank of Scotland NV and RBS Securities Inc.
In addition, the agency revised to positive from negative the outlooks on Lloyds units Lloyds Bank Plc, Bank of Scotland Plc, Lloyds Bank Corporate Markets and Lloyds Bank International Ltd., and to positive from stable for RBS Group units Adam & Co. Plc, National Westminster Bank Plc, Ulster Bank Ltd. and Ulster Bank Ireland DAC. The outlook was maintained at stable for Santander UK parent Santander UK Group Holdings Plc and for RBS Group.
* DBRS downgraded Credito Valtellinese's long-term issuer, deposit and senior debt ratings to BB from BB (high), its short-term issuer, deposit and senior debt ratings to R-4 and placed the ratings under review with negative implications. The outlook on all the ratings is stable. At the same time, the agency lowered the bank's intrinsic assessment to BB from BB (high) and maintained its support designation at SA3.
* S&P revised the outlook on Scottish Widows Ltd. to stable from negative and affirmed the U.K.-based insurer's A local-currency counterparty credit and insurer financial strength ratings.
* Fitch affirmed KA Finanz AG's A+/F1+ long- and short-term issuer default ratings, 1 support rating and A+ support rating floor and simultaneously withdrew them for commercial reasons.
* S&P affirmed Società Cattolica di Assicurazione -Società Cooperativa's BBB long-term counterparty credit and insurer financial strength ratings, with a stable outlook.
* S&P raised PJSC Sovcombank's long-term foreign- and local-currency issuer credit ratings to BB- from B+ and affirmed its B short-term rating, with a stable outlook.
* Fitch downgraded PJSC Uraltransbank's viability rating to "f" from "ccc" and affirmed PJSC Asian-Pacific Bank's and OAO AKB SKB-Bank's viability ratings at "f" and "b-," respectively. The rating agency also affirmed SKB-Bank's long-term issuer default rating at B-, with a stable outlook, while maintaining the long-term issuer default ratings on Asian-Pacific Bank and Uraltransbank at CCC. The latter two ratings remain on Rating Watch Negative.
* Moody's upgraded ATFBank JSC's long-term local- and foreign-currency deposit ratings to B3 from Caa2, its baseline and adjusted baseline credit assessments to "caa2" from "caa3," its long-term counterparty risk assessment to B2(cr) from Caa1(cr) and revised the overall outlook for the bank to positive from negative. At the same time, the agency affirmed the bank's short-term deposit rating and short-term counterparty risk assessment at NP and NP(cr), respectively.
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