FirstRand Bank - Long-Term FCR Lowered Following Change in Sovereign Risk Assessment; Negative Outlook Assigned to FSR

Overview

Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, today announced that it has lowered FirstRand Bank Limited's (FRB) Long-Term Foreign Currency Rating (FCR) to 'BBB-' from 'BBB'. The revision to the Bank's rating follows a change in CI Ratings' internal assessment of sovereign risk to reflect the deterioration in the operating environment.

Attachments

• Credit Rating Announcement (CRA)
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• Bank Rating Report (South Africa, FirstRand Bank)
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