...Mainly European Rating Actions: Downgrades (60) of the Long-Term Issuer Default Ratings (IDRs) of banks rated by Fitch Ratings and covered by this report vastly outpaced upgrades (12) in 2Q15. Rating actions were concentrated in developed markets (DM; 74%), particularly in Europe. Rating actions in emerging markets (EM) were also predominantly in Europe (12 out of 19 Long-Term IDR upgrades/downgrades). Driven Mostly by Support Revision: Both DM and EM actions were driven mainly by support revisions. In May 2015 Fitch revised its sovereign support assumptions for banks in North America, the EU, Switzerland, Norway and Hong Kong. This triggered Long-term IDR downgrades of 46 EU banks and their subsidiaries. However, the vast majority of banks' Long- term IDRs in these countries were unaffected by our revisions to support assumptions. Outlooks Largely Stable: The distribution of Outlooks changed following the support review, particularly in DM. At end-2Q15, over three quarters of Outlooks...
