THE STANDARD BANK OF SOUTH AFRICA LIMITED - The Standard Bank Of South Africa Limited Rating Action By Moodys Investor Services

The Standard Bank Of South Africa Limited Rating Action By Moody’s Investor Services

Standard Bank Group Limited
(Registration Number 1969/017128/06)
Issuer Code: SBT1, SBT2
(“the Group”)

The Standard Bank of South Africa Limited
(Registration number 1962/000738/06)
JSE bond codes: SBS, SBK, SBN, SBR, ETN series
(“the Bank”)


STANDARD BANK GROUP AND THE STANDARD BANK OF SOUTH AFRICA LIMITED
RATING ACTION BY MOODY’S INVESTOR SERVICES

In accordance with paragraph 6.8 of the JSE Debt Listings
Requirements, noteholders are hereby advised that on 24 November
2020, Moody’s Investors Service (“Moody’s) downgraded the long-term
issuer rating of the holding company, Standard Bank Group Limited
(“SBG”) from Ba2 to Ba3. The rating agency also downgraded The
Standard Bank of South Africa Limited’s (“SBSA”) long-term local and
foreign currency deposit ratings from Ba1 To Ba2 and affirmed the
NSR long-term bank deposit rating. The outlook remains negative.

Moody’s rating downgrade of SBG and SBSA follows their decision to
downgrade the ratings of the Government of South Africa on 20
November 2020, to Ba2 from Ba1 and maintain the negative outlook.

The downgrade by Moody’s, in itself, is not expected to have a
material impact on SBG’s and SBSA’s risk weighted assets (RWA) and
capital adequacy. The group remains well capitalised and liquid.

Further details on the rating action can be viewed on the following
link:

https://www.moodys.com/viewresearchdoc.aspx?docid=PBC_ARFTL436573


Johannesburg
26 November 2020

Debt Sponsor
The Standard Bank of South Africa Limited
jsesponsor@standardbank.co.za

Date: 26-11-2020 10:48:00
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