ABSA BANK LIMITED - Change In National Scale Rating by Standard & Poors Rating Services (S&P) - BIABS

Change In National Scale Rating by Standard & Poor’s Rating Services (‘S&P’) - BIABS

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

ABSA BANK LIMITED: CHANGE IN NATIONAL SCALE RATING BY STANDARD & POOR’S
RATINGS SERVICES (‘S&P’)

Notice is hereby given in terms of the Debt Listings Requirements of the JSE Limited that S&P Global
Ratings (S&P) has on 26 November 2019 lowered its national scale ratings on South Africa's financial
institutions. S&P does not rate financial institutions in South Africa above the foreign currency sovereign
ratings and, as a result, Absa Bank’s long term national scale rating was lowered to zaAA from zaAA+.

For additional details on the rationale of the ratings action please see "S&P Global Ratings: Outlook On
South African Banks Now Negative After Same Action On Sovereign; National Scale Ratings Lowered”
published November 26, 2019, on RatingsDirect (www.spglobal.com/ratingsdirect).


Summary of credit rating change:
                                                  To                                From
Absa Bank Ltd.
Counterparty Credit Rating
South Africa National Scale                       zaAA                              zaAA+



Johannesburg

28 November 2019

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

Date: 28-11-2019 05:00:00
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