FIRSTRAND LIMITED - Amendment to FirstRand Limited and FirstRand Bank Limited Credit Ratings

Release Date: 04/07/2018 13:00
 
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Amendment to FirstRand Limited and FirstRand Bank Limited Credit Ratings

FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
JSE ordinary share code: FSR
JSE ordinary share ISIN: ZAE000066304
JSE B preference share code: FSRP
JSE B preference share ISIN: ZAE000060141
NSX ordinary share code: FST
(FirstRand or the group)

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
JSE company code interest rate issuer: FRII
JSE company code debt issuer: FRD
JSE company code ETF issuer: FRLE
(FRB or the bank)

AMENDMENT TO FIRSTRAND LIMITED AND FIRSTRAND BANK LIMITED CREDIT RATINGS

On 2 July 2018, S&P Global Ratings (S&P) raised it national scale ratings on South Africa’s financial
institutions and removed them from under criteria observation. This follows the revision of its criteria on
national scale ratings and subsequent recalibration of the mapping table for South Africa.

These rating actions do not reflect any change in the fundamental credit quality of the bank.

Summary of rating actions on FirstRand Bank Limited and FirstRand Limited:

                                                                          To                 From
 FirstRand Bank Limited
 Counterparty credit rating – South Africa national scale               zaAA+                zaAA-
 Subordinated                                                           zaAA-                 zaA
 Junior subordinated                                                     zaA                zaBBB+

 FirstRand Limited
 Counterparty credit rating – South Africa national scale          zaA/zaA-1         zaBBB+/zaA-2




S&P’s press release can be accessed on: www.spglobal.com.



4 July 2018

Sponsor and Debt Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

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