NEDBANK LIMITED - Credit ratings Action by Moody's

Credit ratings Action by Moody's

NEDBANK LIMITED

(Incorporated in the Republic of South Africa)

Registration number: 1951/000009/06

JSE share code: NBKP

ISIN: ZAE000043667

(“Nedbank”)



CREDIT RATINGS ACTION BY MOODY’S

Shareholders and noteholders are referred to Moody’s press release and ratings actions on
the five largest South African banks on 17 December 2015, including the ratings of Nedbank.
Moody’s reaffirmed Nedbank’s deposit, senior debt and national scale rating, and revised the
corresponding rating outlook to negative from stable.

These ratings actions follow that of the South African sovereign on 15 December 2015 and
references Moody’s assessment of the industry as a whole and are not specific to Nedbank.

Moody’s ratings actions on Nedbank are as follows:

-   Long-term bank deposits (Foreign and Local currency), affirmed Baa2 (outlook changed
    to negative from stable).
-   Short-term bank deposits (Foreign and Local currency), affirmed P-2.
-   National Scale rating long-term bank deposits (Local currency), affirmed A1.za.
-   National Scale rating short-term bank deposits (Local currency), affirmed P-1.za.
-   National Scale rating subordinate medium-term note (Local currency), affirmed A2.za.
-   National Scale rating senior unsecured medium-term note (Local currency), affirmed
    A1.za.
-   Subordinate medium-term note (Foreign currency), affirmed (P)Baa3.
-   Senior unsecured medium-term note (Foreign currency), affirmed (P)Baa2,
-   National Scale rating Preference stock non-cumulative (Local currency), affirmed
    Baa1.za (hyb).
-   Subordinate regular bond/debenture (Foreign currency), affirmed Baa3.
-   Adjusted baseline credit assessment, affirmed baa2.
-   Baseline credit assessment, affirmed baa2.
-   Counterparty risk assessment, affirmed Baa1(cr)/P-2(cr).


Sandton

21 December 2015



Sponsors to Nedbank Limited:

Investec Bank Limited

Nedbank Corporate and Investment Banking

Date: 21/12/2015 08:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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