Credit Rating

Source: RNS
RNS Number : 0561G
Standard Bank Group Limited
07 March 2024
 


Standard Bank Group Limited

(Registration Number 1969/017128/06)

07 March 2024

 

Credit Rating Action by Moody's Investor Services

 

Noteholders are referred to the Moody's Investors Service (Moody's) press release on 6 March 2024 and ratings action on the South African banks, including the ratings of Standard Bank Group Limited (SBG).

 

Included in the ratings action were upgrades to the long-term issuer rating of SBG from Ba3 to Ba2. The full list of rating changes is set out below. The outlook on the ratings is stable.

 

Entity

Rating type

Previous rating

Adjusted Rating

Standard Bank Group Limited

LT Issuer Rating (Foreign)

Ba3

Ba2

Standard Bank Group Limited

LT Issuer Rating (Domestic)

Ba3

Ba2

Standard Bank Group Limited

Senior Unsecured MTN (Foreign)

(P)Ba3

(P)Ba2

Standard Bank Group Limited

Subordinate (Foreign)

B1

Ba3

Standard Bank Group Limited

Subordinate MTN (Foreign)

(P)B1

(P)Ba3

 

The rating action resulted from the application of Moody's Advanced Loss Given Failure (Advanced LGF) analysis to South African banks following the publication of Moody's updated Banks Methodology on 5 March 2024.

 

https://www.moodys.com/credit-ratings/Standard-Bank-Group-Limited-credit-rating-600038208

 

7 March 2024

 

For further information, please contact:

Marc Hearn

Standard Bank Group Limited
9th Floor
5 Simmonds Street, Johannesburg PO Box 2001
South Africa
Telephone number: +27 11 344 5004

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