Nedbank Limited’s Long-Term Foreign Currency Rating Lowered; Financial Strength Rating Outlook Revised to ‘Negative’

Overview

Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, announced today that it has lowered Nedbank Limited's (Nedbank) Long-Term Foreign Currency Rating (FCR) to 'BBB-' from 'BBB'. The change in the Bank's rating follows a change in CI's internal assessment of sovereign risk to reflect the deterioration in the operating environment. Slower GDP growth, political uncertainty, higher unemployment, together with reduced investor and consumer confidence all combine to make trading conditions more difficult.

Attachments

• View Credit Rating Announcement (CRA)
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• Bank Rating Report (South Africa, Nedbank Limited)
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