FIRSTRAND LIMITED - Revision of FirstRand Limited and FirstRand Bank Limited national scale ratings

Revision of FirstRand Limited and FirstRand Bank Limited national scale ratings

FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
JSE ordinary share code: FSR
JSE ordinary share ISIN: ZAE000066304
JSE B preference share code: FSRP
JSE B preference share ISIN: ZAE000060141
NSX ordinary share code: FST
(FirstRand or the group)

FIRSTRAND BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRII
Issuer code: FRD
Issuer code: FRLE
(FRB or the bank)

REVISION OF FIRSTRAND LIMITED AND FIRSTRAND BANK LIMITED NATIONAL SCALE
RATINGS

Noteholders are referred to the announcement issued by S&P Global Ratings
(S&P) on 7 August 2017, in which the agency revised the national scale
ratings of FirstRand Bank Limited and FirstRand Limited which were labelled
as under criteria for observation (UCO) after recalibrating its national
scale mapping table for South Africa.

The ratings do not reflect any change in the fundamental credit quality of
the bank or group.

The rating agency revised the following national scale ratings:

Entity                                                          To            From

FirstRand Limited
South Africa national scale long term                         zaA-           zaBB+
South Africa national scale short term                       zaA-2             zaB

FirstRand Bank Limited
South Africa national scale long term                         zaAA             zaA
South Africa national scale short term                      zaA-1+           zaA-1
Subordinated                                                  zaA+          zaBBB+
Junior subordinated                                           zaA-           zaBB+


Noteholders are   referred   to   S&P’s   press   release    for     any   further
information.


Sandton
8 August 2017

Debt sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 08/08/2017 12:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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