...Balanced Rating Actions: Upgrades (13) and downgrades (15) of the Long-Term Issuer Default Ratings (IDRs) of banks rated by Fitch Ratings and covered by this report were balanced in 4Q14 but regional differences existed. Rating actions were on average more positive for developed market (DM) banks than those in emerging markets (EM). On the other hand, DM banks' Long-Term IDRs had a greater proportion on Negative Outlook or Watch, although the difference narrowed in the quarter. Negative Outlooks Increased in Russia: Increasingly difficult economic conditions in Russia largely explain the rise in EM banks' Long-Term IDRs on Negative Outlook (20% at end-2014; 16% at end-September 2014). Outlooks revised to Negative were otherwise limited in the rest of EM. Sovereign Ratings Affected EM IDRs: Rating actions on four EM sovereigns resulted in 12 rating actions on EM banks (out of a total of 22). The negative changes exceeded positives in the quarter with 14 IDRs downgraded and eight upgraded....
