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Nedbank Group Limited (JSE:NED) News - Credit ratings action by Moody's Investors Service
Nedbank Group Limited Nedbank Limited
(Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06 Registration No. 1951/000009/06
JSE share code: NED JSE alpha code: BINBK
NSX share code: NBK (‘Nedbank’)
ISIN: ZAE000004875
JSE alpha code: NEDI
(‘Nedbank Group’)
CREDIT RATINGS ACTION BY MOODY’S INVESTORS SERVICE
Shareholders and noteholders are referred to the Moody's Investors Service (Moody's) press release
on 5 April 2022 and ratings action on the South African banks, including the ratings of Nedbank
Limited, the 100%-owned subsidiary of Nedbank Group. Moody's has affirmed the Ba2 long-term
Deposit rating of Nedbank, while all other ratings and assessments on Nedbank were also confirmed.
At the same time Moody’s changed its outlook to stable from negative on the Nedbank’s long-term
deposit and issuer ratings.
This rating action follows Moody's affirmation of SA government’s Ba2 issuer rating and the change in
outlook to stable from negative on 1 April 2022.
Moody’s noted: ‘Today’s decision to change the outlook to stable from negative reflects the recovery in
banks’ key financial metrics, including profitability and capital, and the stabilisation of the operating
environment as reflected by the outlook change to stable for South Africa’.
Sandton
6 April 2022
Sponsors to Nedbank Group in South Africa:
Merrill Lynch SA Proprietary Limited t/a BofA Securities
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd
Debt Sponsor to Nedbank Limited in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 06-04-2022 07:40:00
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