|
NEDCOR LIMITED -
NEDCOR LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
ISIN code: ZAE000004875
CREDIT RATINGS FROM ALL FOUR MAJOR RATINGS AGENCIES
Following the press release from Moody"s, Nedcor is pleased to advise that all
four major credit ratings agencies have updated their ratings on the group,
following the trading statement on 17 November 2003 and the announcement of the
R2 billion secondary capital issue on 22 December 2003.
These include formal ratings from Fitch and CA-Ratings (which has rated Nedcor
for the first time), and public information ratings from Standard & Poor"s and
Moody"s.
A summary of the ratings and the date of review is as follows:
FORMAL RATINGS:
Fitch (January 2004) - Nedcor Limited and Nedbank Limited
Nedcor Nedbank
International long term foreign currency BBB-
International long term local currency BBB+
National long term rating AA-
Individual rating C/D
National long term subordinated notes A+
International short term rating F3
Support rating 5 2
National short term rating F1 F1+
The long term rating outlook is STABLE
CA-Ratings (January 2004) - Nedcor Limited
Long-term: zaAA- Indicates very strong capacity of the issuer to pay
interest and repay capital relative to other South
African obligors.
Outlook: Stable
Short-term: zaA1+ Indicates that the degree of safety regarding timely
payment is either overwhelming or very strong, relative
to other South African obligors.
PUBLIC INFORMATION RATINGS:
Standard & Poor"s (December 2003) - Nedcor Limited
Local currency BBBpi
Counterparty Credit - Local currency BBBpi
RSA Sovereign Ratings:
Local currency A/Stable/A-1
Foreign currency BBB/Stable/A-3
Moody"s (January 2004) - Nedbank Limited
Bank financial strength rating C+ (under review)
Long-term bank deposit rating Baa2*
Short-term bank deposit rating Prime-2*
Outlook Positive
* Capped by the RSA Sovereign rating
For further information:
Tier 1 Investor Relations
+27 (0)21 702 3102
Sandton
28 January 2004
Sponsors to Nedcor:
Merrill Lynch South Africa (Pty) Limited
UBS Corporate Finance South Africa (Pty) Limited
Nedbank Corporate
Date: 28/01/2004 08:21:03 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
| 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
