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
DISCLAIMER
This Announcement is not intended to, and shall
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activity (within the meaning of Section 21 of the Financial
Services and Markets Act 2000) in connection with the issue or sale
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amended (the Securities
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