CAPITEC BANK LIMITED - Standard And Poors Update On Capitec Banks Credit Ratings And Outlook

Standard And Poor’s Update On Capitec Bank’s Credit Ratings And Outlook

Capitec Bank Holdings Limited
Incorporated in the Republic of South Africa
Registration number 1999/025903/06
Registered bank controlling company
JSE share code: CPI - ISIN: ZAE000035861
JSE preference share code: CPIP - ISIN: ZAE000083838
("Capitec")

Capitec Bank Limited
Incorporated in the Republic of South Africa
Registration number 1980/003695/06
Company code: BICAP
(“Capitec Bank” or “the bank”)

STANDARD AND POOR’S UPDATE ON CAPITEC BANK’S CREDIT RATINGS
AND OUTLOOK

On 4 December 2015, Standard and Poor’s Ratings Services
(“S&P”) revised its outlook on the Republic of South Africa
from stable to negative, reflecting a view of protracted
weak economic growth, with estimates of 1.4% GDP growth in
2015 and 1.6% in 2016. As a result, S&P has revised its
economic risk trend for South Africa from stable to
negative.

The effect is that the outlook on the bank’s global scale
long-term rating has been changed from stable to negative.
The global long-term ‘BB+’ and short-term ‘B’ ratings have
been affirmed. Simultaneously, the long-term national scale
rating of ‘zaA’ has been affirmed, and the short-term
national scale rating has been adjusted from ‘zaA-1’ to
‘zaA-2’, in line with S&P’s ratings criteria.

Stellenbosch
10 December 2015

Sponsor: PSG Capital (Pty) Limited

Debt Sponsor: Rand Merchant Bank (A division of FirstRand
Bank Limited)

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