trending Market Intelligence /marketintelligence/en/news-insights/trending/vBvf4EWmOpOwcol_sAG-Aw2 content esgSubNav
In This List

Moody's repositions national scale ratings of South African banks


Banking Essentials Newsletter: October Edition


Banking Essentials Newsletter: September Edition, Part - 2

Case Study

A Prestigious Global Business School Gains a Competitive Edge


S&P Capital IQ Pro | Unrivaled Sector Coverage

Moody's repositions national scale ratings of South African banks

Moody's on May 10 repositioned the national scale ratings ofSouth Africa's various financial institutions as the country's national ratingscale was recalibrated.

As a result of the recalibration, 90% of the country's fundamentalissuers saw an average increase of 2.7 notches in their primary long-termnational scale ratings.

The agency repositioned to from the nationalscale long-term bank deposits local-currency ratings of 's , 's , 's and 's ,with their national scale short-term bank deposits local-currency ratingsconfirmed at

The agency repositioned FirstRand Ltd. unit FirstRand Bank Ltd.'s national scale long-term bankdeposits local-currency ratings to from, while its national scaleshort-term bank deposits local-currency rating was confirmed at

The agency also published Bidvest Bank Ltd.'s and 's long- andshort-term global scale local-currency issuer ratings of Ba1/NP and Ba3/NP,respectively, with a stable outlook on the long-term ratings. In addition, theagency repositioned Bidvest Bank's national scale long- and short-termlocal-currency issuer ratings to from, whileMercantile Bank's national scale ratings were not impacted.