REG - Standard Bank Group - Credit Rating

Moody'sAnnouncement

07/03/2024 19:30

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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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