MAURITIUS COMMERCIAL BANK LIMITED - Moody's Investor Services repositions the National Scale Rating of Mauritius Commercial Bank
BIMCB 201605170004A
Moody's Investor Services repositions the National Scale Rating of Mauritius Commercial Bank
The Mauritius Commercial Bank Limited
(Incorporated in the Republic of Mauritius)
(Incorporated by Royal Charter in 1838 and registered as a limited
liability company in the Republic of Mauritius under Mauritian law)
Company code: BIMCB
(“Mauritius Commercial Bank”)
MOODY'S INVESTOR SERVICES REPOSITIONS THE NATIONAL SCALE RATING OF
MAURITIUS COMMERCIAL BANK
Noteholders are advised that Moody's Investors Service (“Moody’s”)
has, on 10 May 2016, repositioned the National Scale Rating (NSR) of
Mauritius Commercial Bank, in conjunction with the recalibration of
the South African national rating scale and as part of the
implementation of Moody’s updated methodology.
Mauritius Commercial Bank’s NSR LT Senior Unsecured MTN (Foreign
Currency) has been repositioned to Aa3.za from A3.za, the NSR LT
Subordinate MTN (Foreign Currency) repositioned to Baa1.za from
Baa2.za, whilst the GSR LT Senior Unsecured MTN (Foreign Currency) is
published at (P)Baa3 and the GSR LT Subordinated MTN (Foreign
Currency) is published at (P)Ba2.
Whilst Moody’s revised methodology has had a positive impact on
Mauritius Commercial Bank’s NSRs, these repositioned ratings do not
signify a change in credit risk, since the Global Scale Ratings
(GSRs) remain unchanged.
Noteholders are referred to the press release by Moody’s for any
additional information.
17 May 2016
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 17/05/2016 07:46:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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