ABSA BANK LIMITED - BAGL/ BIABS - Rating Confirmation by Moody's Investor Services
AB013 ABN74 ABN79 ABN85 ABN86 ABN87 ABS11 ASN041 ASN062 ABS12 ABS13 ASN064 ASN073 ASN087 ASN091 ABS16 ABS17 ABS14 ABS15 ASN099 ASN115 ASN141 ASN135 ABN67 ABN80 201803280051A
BAGL/ BIABS - Rating Confirmation by Moody's Investor Services
BARCLAYS AFRICA GROUP LIMITED
(Incorporated with limited liability in South Africa under registration number 1986/003934/06)
Bond Issuer Code: BAGL
(“Barclays Africa Group” or “BAGL”)
ABSA BANK LIMITED
(Incorporated with limited liability in South Africa under registration number 1986/004794/06)
Bond Issuer Code: BIABS
(“Absa Bank”)
BARCLAYS AFRICA GROUP LIMITED AND ABSA BANK LIMITED: CONFIRMATION OF MOODY’S
INVESTORS SERVICES (“MOODY’S”) CREDIT RATINGS
Notice is hereby given in terms of the Debt Listings Requirements of the JSE Limited that Moody’s has
on 27 March 2018, confirmed the long-term local and foreign currency deposit ratings of Absa Bank at
Baa3 (stable) and long-term local and foreign currency issuer ratings of BAGL at Ba1 (stable). This
follows similar action taken on the South African Sovereign’s outlook, which was changed to “stable” on
23 March 2018 from a previous outlook of “review for downgrade”.
According to Moody’s, the primary drivers of Absa Bank and BAGL’s stable outlook are attributable to:
1. a more stable and predictable economic environment in South Africa following recent elections,
which affects the banks through their sizeable holdings of sovereign debt securities;
2. the prospects of improved consumer and investor confidence following the change in
government which could enhance economic growth forecasts;
3. BAGL’s proven track record to sustain resilient financial performance in 2016 and 2017 amid
challenging economic conditions.
Further details are available on the Moody’s website or the press release by Moody’s entitled “Press
Release –Moody's Confirms the Ratings of Six South African Banks”.
28 March 2018
Debt sponsor to Barclays Africa Group Limited and Absa Bank Limited:
Absa Bank Limited, acting through its Corporate and Investment Banking division
Date: 28/03/2018 03:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
