S&P Global Market Intelligence presents a daily summary of ratings actions on European, Middle Eastern and African financial institutions. This feature excludes previously reported stories.
EUROPE
* Fitch Ratings downgraded the long-term issuer default rating of HSBC Holdings PLC unit HSBC France SA's to A+ from AA- and maintained it on Rating Watch Negative. The agency also downgraded the bank's senior preferred debt rating to A+ from AA- and its derivative counterparty rating to A+(dcr) from AA-(dcr). Meanwhile, the bank's F1+ short-term issuer default rating, "a-" viability rating and 1 support rating were affirmed.
* Fitch downgraded the long-term issuer default and deposits ratings of Germany-based HSBC Trinkaus & Burkhardt AG A+ from AA- and maintained the long-term issuer default rating on Rating Watch Negative. The agency also affirmed the bank's F1+ short-term issuer default rating and deposits and 1 support rating.
* Fitch acted on four Russia-based banks owned by foreign entities. The rating agency upgraded AO UniCredit Bank's long-term foreign- and local-currency issuer default ratings to BBB from BBB-, with a negative outlook, and its viability rating to "bbb" from "bbb-". The UniCredit SpA unit's F3 short-term foreign- and local-currency issuer default rating and 2 support rating were affirmed.
AO Raiffeisenbank's viability rating was upgraded to "bbb" from "bbb-", while its BBB long-term foreign- and local-currency issuer default ratings were affirmed, with a stable outlook. The rating agency also affirmed the Raiffeisen Bank International AG unit's F2 short-term issuer default rating and 2 support rating.
The agency also upgraded PJSC ROSBANK's viability rating to "bbb-" from "bb+", and affirmed the Société Générale SA unit's BBB long-term foreign- and local-currency issuer default ratings, with a stable outlook. The bank's F2 short-term issuer default rating BBB/F2 long- and short-term senior unsecured ratings and 2 support rating were affirmed.
AO Citibank's viability rating was upgraded to "bbb" from "bbb-" and removed it from Rating Watch Positive. The bank's BBB long-term foreign- and local-currency issuer default ratings were affirmed, along with its F2 short-term issuer default rating and 2 support rating. The outlook on the long-term foreign- and local-currency issuer default ratings is stable.
* S&P Global Ratings affirmed the long- and short-term issuer credit ratings of Uzbekistan-based PJSCB Ravnaq-bank at B-/B, with a stable outlook.
MIDDLE EAST
* Fitch downgraded the long-term issuer default and senior unsecured debt ratings of Dubai-based HSBC Bank Middle East Ltd. to A+ from AA- and maintained the issuer default rating on Rating Watch Negative. The bank's F1+ short-term issuer default and senior unsecured debt ratings were affirmed, along with its 1 support rating.
AFRICA
* Moody's affirmed Democratic Republic of the Congo-based Banque Commerciale Du Congo SA's Caa2/Not Prime long- and short-term local- and foreign-currency bank deposits ratings and changed the outlook on the long-term rating to positive from stable. The agency also affirmed the bank's Caa1/Not Prime long- and short-term local- and foreign-currency counterparty risk ratings, Caa1(cr)/NP(cr) long- and short-term counterparty risk assessments and its "caa2" baseline and adjusted baseline credit assessments.
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