BC downgrade DETNOR NO • JEFF upgrade MARS LN, KepChev double upgrade SDF GY, MAQ downgrade DNB NO • JPM downgrade SCR FP, DEB LN, EVD GY, O1BC GY, AAL LN, upgrade MONY LN, PER LN, NHY NO • Mainfirst downgrade SFER IM, Nordea downgrade SWECB SS, Numis upgrade PSN LN • UBS downgrade KINVB SS, RMV LN, F

CH GY, ETL FP, downgrade SDF GY, TLPR LN, ICL IT, URKA LI • BofAML upgrade DEC FP, reinstate SGRO LN (b), Nordea upgrade ORNBV FH ••• Exane upgrade AAL LN, initiate BPOST BB (n), Equinet downgrade DBK GY ••• KepChev downgrade IVG GY, RHM GY, upgrade IT IM, Numis u/g MEC LN, ITV LN ••• Cana downgrade M