CAPITEC BANK LIMITED - S&P Global Ratings Changes Capitec Banks Credit Ratings

S&P Global Ratings Changes Capitec Bank’s Credit Ratings

Capitec Bank Holdings Limited
Incorporated in the Republic of South Africa
Registration number 1999/025903/06
Registered bank controlling company
Ordinary Share Code: CPI ISIN Number: ZAE000035861
Preference Share Code: CPIP ISIN Number: ZAE000083838
("Capitec")

Capitec Bank Limited
Incorporated in the Republic of South Africa
Registration No. 1980/003695/06
Company code: BICAP
(“Capitec Bank”)

S&P GLOBAL RATINGS (“S&P”) CHANGES CAPITEC BANK’S CREDIT
RATINGS

The South African sovereign was downgraded on 24 November
2017. S&P indicate in their ratings report that they do not
rate financial institutions in South Africa above the foreign
currency sovereign ratings. Consequently they lowered their
ratings on six financial institutions operating in South
Africa, including Capitec Bank.

Capitec Bank’s global long-term rating was lowered to ‘BB’
from ‘BB+’. The global short-term rating remains at ‘B’. These
ratings carry a stable outlook. The national long-term rating
was lowered by one notch to ‘zaAA-’ whilst the national short-
term rating was affirmed at ‘zaA-1+’. Capitec Bank carries the
same long-term foreign currency rating as the South African
sovereign.

Stellenbosch
30 November 2017
Sponsor: PSG Capital

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