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CAPITEC BANK HOLDINGS LIMITED - Capitec Bank Limited (The Wholly Owned Subsidiary Of Capitec Bank Holdings Limited) Credit Ratings Affirmed And Outl

Release Date: 27/11/2019 08:00
Code(s): CPI CPIP CBL26 CBL22 CBL20 CBL29 CBL24 CBL27 CBL28     PDF:  
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Capitec Bank Limited (The Wholly Owned Subsidiary Of Capitec Bank Holdings Limited) Credit Ratings Affirmed And Outl

Capitec Bank Holdings Limited
Registration number 1999/025903/06
Registered bank controlling company
Incorporated in the Republic of South Africa
JSE ordinary share code: CPI ISIN code: ZAE000035861
JSE preference share code: CPIP ISIN code: ZAE000083838
("Capitec" or "the company")

Capitec Bank Limited
Incorporated in the Republic of South Africa
Registration No. 1980/003695/06
Company code: BICAP
Stock Code: CBL20
ISIN Code: ZAG000102245
Stock Code: CBL22
ISIN Code: ZAG000105305
Stock Code: CBL24
ISIN Code: ZAG000130881
Stock Code: CBL26
ISIN Code: ZAG000136128
Stock Code: CBL27
ISIN Code: ZAG000143884
Stock Code: CBL28
ISIN Code: ZAG000151333
Stock Code: CBL29
ISIN Code: ZAG000158874
(“Capitec Bank” or “the bank”)

CAPITEC BANK LIMITED (THE WHOLLY OWNED SUBSIDIARY OF CAPITEC BANK
HOLDINGS LIMITED) CREDIT RATINGS AFFIRMED AND OUTLOOK CHANGED

On 22 November 2019, S&P Global Ratings (“S&P”) revised its outlook on
South Africa to negative on weakening fiscal and debt trajectory and
sizable contingent liabilities. S&P’s policy is to not rate financial
institutions in South Africa above the foreign currency long term
sovereign ratings, of ‘BB’ and short term ratings of ‘B' due to the
direct and indirect impacts a sovereign distress would have on South
African banks' operations. Capitec Bank’s credit ratings’ outlook has
therefore been revised to negative from stable on 26 November 2019.

Simultaneously, S&P affirmed the global and national scale ratings of
Capitec Bank. The global long term ratings remain ‘BB’ and the global
short term ratings ‘B'. The national scale long term ratings are
affirmed as 'zaAA’ and the national short term ratings ‘zaA-1+'.

27 November 2019
Stellenbosch

Sponsor PSG Capital

Date: 27-11-2019 08:00:00
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