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EMEA ratings roundup, Aug. 7

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


* S&P Global Ratings affirmed Standard Chartered Bank's A/A-1 long- and short-term issuer credit ratings, with a stable outlook. The agency also affirmed the British lender's A/A-1 long- and short-term certificate of deposit, and acted on Standard Chartered Bank (Hong Kong) Ltd. and certain units in China, Korea and Taiwan. The ratings actions follow Standard Chartered group's Aug. 1 results announcement in which it indicated that it partially completed its internal restructuring to form Standard Chartered Bank (Hong Kong) as a regional hub. The ratings on Standard Chartered PLC, the main nonoperating holding company of the group, remain unaffected.

* Fitch Ratings downgraded Unipol Banca SpA's long-term issuer default and deposit ratings to BB from BB+, following the completion of its acquisition by BPER Banca SpA. The agency also removed the ratings from Rating Watch Negative. The outlook on the long-term issuer default rating is positive. At the same time, the agency maintained Unipol Banca's "b" viability rating on Rating Watch Positive and affirmed its B short-term issuer default rating and 3 support rating.

Middle East

* Capital Intelligence Ratings affirmed the A+ long-term foreign currency rating of Industrial Bank of Kuwait KSC The agency also adjusted the bank's short-term foreign-currency rating to A1 from A2 and assigned it a "bbb+" bank stand-alone rating. The outlooks on the long-term foreign-currency and bank stand-alone ratings are stable.


* Moody's assigned first-time local- and foreign-currency issuer ratings of B3 to Niger, with a stable outlook. The rating agency also assigned the country Ba3 local- and foreign-currency bond and deposit ceilings.

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This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.