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EMEA ratings roundup, Aug. 2

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

EUROPE

* DBRS confirmed Norwegian bank DNB Bank ASA's AA(low)/R-1(middle) long- and short-term issuer and deposits ratings. Also confirmed were the bank's AA(low) long-term senior debt rating, R-1(middle) short-term debt rating, and AA(high)/R-1(high) long- and short-term critical obligations ratings. The trend on all of the bank's ratings is stable. DNB Bank's support assessment is SA3, while its intrinsic assessment is AA(low).

* ACRA affirmed the BBB+(RU) credit rating of Russia-based CB LOCKO-Bank (JSC), with a stable outlook.

* Fitch Ratings affirmed French bank AXA Banque SA's A/ F1 long- and short-term issuer default ratings, with a stable outlook on the long-term rating. The agency also affirmed the bank's 1 support rating.

* Moody's affirmed Albania's B1 long-term foreign- and local-currency issuer ratings, and B1 foreign currency senior unsecured debt rating. The outlook on the country remains stable.

* Fitch affirmed Lithuania's A- long-term foreign- and local-currency issuer default ratings, with positive outlooks. The agency also affirmed the country's F1 short-term foreign- and local-currency issuer default ratings. The country ceiling was affirmed at AAA.

* Fitch also affirmed Andorra's BBB+/F2 long- and short-term issuer default ratings, with a stable outlook on the long-term rating. The agency also affirmed the country's A+ country ceiling.

* Fitch also affirmed Greece's BB- long-term foreign- and local-currency issuer default ratings, with stable outlooks. The agency also affirmed the country's B short-term foreign- and local-currency issuer default ratings, BBB- country ceiling, and BB-/B long- and short-term senior unsecured debt ratings.

* DBRS confirmed Republic of Ireland's A(high)/R-1(middle) long- and short-term foreign currency issuer ratings and A(high)/R-1(middle) long- and short-term local currency issuer ratings. The trend on all the ratings is stable.

* S&P Global Ratings affirmed its unsolicited long- and short-term foreign currency sovereign credit ratings on Turkey at B+/B, with a stable outlook. The agency also affirmed the unsolicited long- and short-term local currency sovereign credit ratings on the country at BB-/B. Also affirmed were the country's BB- unsolicited transfer and convertibility assessment and the trAA+/trA-1+ unsolicited long- and short-term Turkey national scale ratings.

* Fitch assigned T. Emlak Bankasi AS Munzam Sosyal Guvenlik Ve Yardim Vakfi B+/B long- and short-term foreign-currency issuer default ratings and BB-/B long- and short-term local-currency issuer default ratings. The outlook on the long-term ratings is negative. Fitch also assigned the Turkish lender a AA(tur) national long-term rating with a stable outlook, a 4 support rating and a B+ support rating floor.

* Fitch also downgraded the support rating of Romania-based Garanti Bank SA to 4 from 3. Garanti Bank's BB-/B long- and short-term issuer default ratings and "bb-" viability rating were also affirmed. The outlook is stable.

* Fitch placed the A- long-term issuer default rating, F2 short-term issuer default rating, and 5 support rating of Kas Bank NV on rating watch positive after CACEIS SA's recommended public offer.

MIDDLE EAST

* Capital Intelligence Ratings affirmed Kuwait's AA- long-term foreign- and local-currency ratings. Additionally, the agency affirmed the short-term foreign- and local-currency rating on the country at A1+. The outlook for the ratings remains stable.

AFRICA

* Fitch acted on five South African banks and four bank holding companies, following the revision of the outlook on South Africa's long-term issuer default ratings to negative from stable. The agency revised the outlooks on the long-term foreign- and local-currency issuer default ratings of Absa Bank Ltd., FirstRand Bank Ltd., Investec Bank Ltd., Nedbank Ltd. and Standard Bank of South Africa Ltd. to negative from stable and affirmed the long-term issuer default ratings at BB+.

The ratings agency also revised the outlooks on the long-term foreign- and local-currency issuer default ratings of bank holding companies Absa Group Ltd., Investec Ltd., Nedbank Group Ltd. and Standard Bank Group Ltd. to negative from stable and affirmed the long-term issuer default ratings at BB+.

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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.