S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions and economies.
EUROPE
* Moody's upgraded the long-term bank deposit and senior unsecured debt ratings of Crédit Agricole SA and Crédit Agricole Corporate & Investment Bank to Aa3 from A1 and revised the outlook on the ratings to stable from positive. Crédit Agricole's long-term issuer rating and baseline credit assessment were upgraded to Aa3 from A1 and to "baa2" from "baa3," respectively. The outlook on the French lender's long-term issuer rating was also revised to stable from positive. The adjusted baseline credit assessments of Crédit Agricole SA and Crédit Agricole CIB were upgraded to "a3" from "baa1," while their long-term counterparty risk ratings and long-term counterparty risk assessments were upgraded to Aa2 from Aa3 and to Aa2(cr) from Aa3(cr), respectively. Moody's also upgraded the long-term bank deposit ratings of the 36 Caisses Régionales de Crédit Agricole Mutuel entities to Aa3 from A1 and revised the outlook on the ratings to stable from positive.
* Moody's affirmed Georgia's Ba2 long-term issuer and senior unsecured ratings, with a stable outlook. The rating agency noted that the country's local-currency bond and deposit ceilings remain at Baa1, foreign-currency bond ceiling at Baa3 and long-term foreign-currency deposit ceiling at Ba3. The short-term foreign-currency ceilings and bond ceiling remains unchanged at P-3, as well as the Not Prime short-term deposit ceilings.
MIDDLE EAST
* Moody's withdrew Al Hilal Bank PJSC's A2/P-1 long- and short-term issuer ratings, "ba3" baseline credit assessment, "ba1" adjusted baseline credit assessment, A1/P-1 long- and short-term counterparty risk ratings and A1(cr)/P-1(cr) long- and short-term counterparty risk assessments for its own business reasons. The outlook on the long-term issuer rating was stable prior to its withdrawal.
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