NED - Nedbank Group - Press Release - Credit Ratin
NED
NED
NED - Nedbank Group - Press Release - Credit Ratings from Moody`s
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
PRESS RELEASE: MOODY`S ANNOUNCES BANK RATING ACTIONS FOR SOUTH AFRICA
RESULTING FROM IMPLEMENTATION OF JDA AND BFSR METHODOLOGIES
New York, April 24, 2007 -- Moody`s Investors Service today published the
rating results for banks in South Africa as part of the application of its
refined joint default analysis (JDA) and updated bank financial strength
rating (BFSR) methodologies.
The ratings for Nedbank Limited are as follows:
- The BFSR remains unchanged at C (stable outlook).
- The Global Local Currency Deposit has been upgraded to
Aa3/Prime-1 from A1/Prime-1.
- The Foreign Currency Deposit Ratings remain unchanged at
Baa1/Prime-2, and are constrained by the country ceiling.
- The National Scale ratings have been upgraded to
Aa1.za/Prime-1.za from Aa2.za/Prime-1.za.
Limassol
Mardig Haladjian
General Manager
Financial Institutions Group
Moody`s Investors Service Cyprus Limited
Date: 26/04/2007 10:33:01 Produced by the JSE SENS Department.
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