ABSA BANK LIMITED - BAGL/ BIABS - Revision of Barlcays Africa Group Limited and ABSA Bank Limited National Scale Rating by S&P

BAGL/ BIABS - Revision of Barlcays Africa Group Limited and ABSA Bank Limited National Scale Rating by S&P

BARCLAYS AFRICA GROUP LIMITED
(Incorporated with limited liability in South Africa under registration number 1986/003934/06)
Bond Issuer Code: BAGL
(“Barclays Africa Group” or “BAGL”)


ABSA BANK LIMITED
(Incorporated with limited liability in South Africa under registration number 1986/004794/06)
Bond Issuer Code: BIABS
(“Absa Bank”)


REVISION OF BARCLAYS AFRICA GROUP LIMITED AND ABSA BANK LIMITED NATIONAL
SCALE RATINGS BY S&P GLOBAL RATINGS

In terms of the Debt Listings Requirements of the JSE Limited, notice is hereby given that S&P Global
Ratings (S&P) has, on 7 August 2017, revised the national scale ratings of Barclays Africa Group Limited
and Absa Bank Limited. The ratings were previously labelled as “under criteria for observation” (UCO),
due to the fact that S&P were in the process of recalibrating its national scale mapping table for South
Africa following its downgrade of the South Africa sovereign on 3 April 2017.

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

The rating agency revised the following national scale ratings:

Barclays Africa Group Limited

                                                 New Rating       Old Rating

South Africa National Scale      Long term       zaA-             zaBB+

South Africa National Scale      Short term      zaA-2            zaB



Absa Bank Limited

                                                 New Rating       Old Rating

South Africa National Scale      Long term       zaAA             zaA

South Africa National Scale      Short term      zaA-1+           zaA-1



Johannesburg
10 August 2017

Debt sponsor to Barclays Africa Group and Absa Bank Limited:
Corporate and Investment Bank, a division of Absa Bank Limited

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