CAPITEC BANK LIMITED - Standard And Poors Update On Capitec Banks Credit Ratings And Outlook
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Standard And Poor’s Update On Capitec Bank’s Credit Ratings And Outlook
Capitec Bank Holdings Limited
Incorporated in the Republic of South Africa
Registration number 1999/025903/06
Registered bank controlling company
JSE share code: CPI - ISIN: ZAE000035861
JSE preference share code: CPIP - ISIN: ZAE000083838
("Capitec")
Capitec Bank Limited
Incorporated in the Republic of South Africa
Registration number 1980/003695/06
Company code: BICAP
(“Capitec Bank” or “the bank”)
STANDARD AND POOR’S UPDATE ON CAPITEC BANK’S CREDIT RATINGS
AND OUTLOOK
On 4 December 2015, Standard and Poor’s Ratings Services
(“S&P”) revised its outlook on the Republic of South Africa
from stable to negative, reflecting a view of protracted
weak economic growth, with estimates of 1.4% GDP growth in
2015 and 1.6% in 2016. As a result, S&P has revised its
economic risk trend for South Africa from stable to
negative.
The effect is that the outlook on the bank’s global scale
long-term rating has been changed from stable to negative.
The global long-term ‘BB+’ and short-term ‘B’ ratings have
been affirmed. Simultaneously, the long-term national scale
rating of ‘zaA’ has been affirmed, and the short-term
national scale rating has been adjusted from ‘zaA-1’ to
‘zaA-2’, in line with S&P’s ratings criteria.
Stellenbosch
10 December 2015
Sponsor: PSG Capital (Pty) Limited
Debt Sponsor: Rand Merchant Bank (A division of FirstRand
Bank Limited)
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