S&P Global MarketIntelligence presents a weekly overview of ratings actions on Middle Easternand African financial institutions and economies. Ratings actions are listed byannouncement date in reverse chronological order.
* S&P Global Ratingsaffirmed Abu Dhabi CommercialBank PJSC's A/A-1 long- and short-term counterparty credit ratings.The outlook remains stable.
*S&P affirmed the A- insurer financial strength and counterparty creditratings on Doha Insurance Co.QSC and MashreqbankPSC unit OmanInsurance Co. PSC. The outlooks remain stable.
*Capital Intelligence affirmedthe financial strength rating of National Bank of Abu Dhabi PJSC at A+, with a stableoutlook.
*Capital Intelligence affirmedthe financial strength rating of Kuwait Finance House KSCP at BBB, with a stable outlook.
*Fitch Ratings downgraded Lebanon's long-term foreign- andlocal-currency issuer default ratings to B- from B, with stable outlooks. Theagency affirmed Lebanon's short-term foreign-currency issuer default rating atB and lowered the country ceiling to B- from B.
*Fitch affirmed Land &Agricultural Development Bank of South Africa's AA+(zaf)/ F1+(zaf)national long- and short-term ratings and 2 support rating. The outlook on thelong-term rating is stable. The rating agency simultaneously the bank's ratings.
*Fitch downgradedKenya's long-term local-currency issuer default rating to B+ from BB-, with anegative outlook. Kenya's long-term foreign-currency issuer default rating wasaffirmed at B+, also with a negative outlook.
*Moody's maintained the negative outlook on Lebanon's banking system.
* Capital Intelligence affirmed the BBB+financial strength rating of National Bank of Kuwait SAKP's , with a stableoutlook.
*Capital Intelligence affirmedBank AlJazira'sfinancial strength rating at BBB, with a stable outlook.
*Capital Intelligence affirmedthe long- and short-term ratings on the Oman national scale of at"omBBB-" and "omA3" respectively. The outlook remainsstable on both ratings.
*Fitch affirmedthe BB+ long-term foreign-currency issuer default ratings, BBB- long-termlocal-currency issuer default ratings, AA-(mar) national long-term ratings,"b+" viability ratings and 3 support ratings of and . The agency alsoaffirmed the banks' B/F3 short-term foreign- and local-currency issuer defaultratings. The outlooks on the long-term ratings are stable.
* Fitchalso affirmedBanque Marocaine pour le Commerceet l'Industrie's national long-term rating at AAA(mar) with astable outlook, its national short-term rating at F1+(mar) and its supportrating at 2.
* Fitch placed FirstGulf Bank PJSC's ratings on Rating Watch Positive following theannouncement of its proposed merger with National Bank of Abu Dhabi. Themove applies to FirstGulf Bank's A+/F1 long- and short-term issuer default ratings, "bbb"viability rating and A+ support rating floor. Fitch also affirmed the bank'ssupport rating at 1. National Bank of Abu Dhabi's "a-" viabilityrating was placed on Rating Watch Negative, while its AA-/F1+ long- and short-termissuer default ratings, AA- support rating floor and 1 support rating wereaffirmed.
* Capital Intelligence affirmed the financialstrength rating of United ArabBank PJSC at BBB+.
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