...Limited Rating Actions; Majority Europe: The number of rating changes of banks rated by Fitch Ratings and covered by this report returned to more average levels in 3Q15, after significant downgrades in 2Q15 driven mainly by support revisions. During the quarter, 12 banks' Long-Term Issuer Default Ratings (IDRs) were upgraded and 17 downgraded. Europe made up 16 of these 29. Downgrades were evenly split between developed markets (DMs) and emerging markets (EMs), but upgrades were more prevalent in EMs (eight of the total 12). VRs Drive IDR Changes: Rating changes were driven mainly by rating actions on the banks' Viability Ratings (VRs) in DMs (10 of 12 changes) and lesser extent in EMs (6 of 17). All seven VR downgrades in DMs were in Europe. VR upgrades in EMs offset downgrades (five each). Outlooks Mainly Stable: The distribution of Outlooks was broadly unchanged in 3Q15, at just over three-quarters on Stable. Positive Outlooks just outweigh Negative in DMs, with EM Outlooks remaining...
