INVESTEC BANK LIMITED - Investec Bank Limited: Credit rating actions by S&P Ratings

Investec Bank Limited: Credit rating actions by S&P Ratings

Investec Bank Limited
Incorporated in the Republic of South Africa
Registration number 1969/004763/06
JSE Share Code: IBRP1
ISIN: ZAE000242525

Investec Bank Limited: Credit rating actions by S&P Ratings

Shareholders and noteholders are referred to the S&P Ratings (S&P) press release on 7 May
2020 and rating actions on South African banks, including the ratings of Investec Bank
Limited.

This rating action follows the downgrade by S&P of the South African government's long-term
foreign currency ratings to BB- from BB (outlook stable) on 29 April 2020. The South African
sovereign ratings act as a ceiling such that the ratings of South African banks cannot be
higher than that of the sovereign.

According to S&P, Investec Bank Limited’s standalone credit profile is unchanged despite the
lower anchor for South African banks. Investec Bank Limited has a niche position among
South Africa's high-net-worth individuals and professionals resulting in better-than-average
creditworthiness, resilience and business stability through the cycle.

The specific rating changes for Investec Bank Limited are as follows:

                                                       To                     From
 Long-term issuer credit rating (foreign)          BB-/Stable              BB/Negative

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


11 May 2020

N van Wyk
Company Secretary
Investec Bank Limited


Sponsor:
Investec Bank Limited

Date: 11-05-2020 12:00:00
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