Credit Rating

Standard Bank Group Limited

07 March 2024

 

Standard Bank Group Limited

(Registration Number 1969/017128/06)

07 March 2024

Credit Rating Action by Moody's Investor Services

Noteholders are referred to the Moody's Investors Service (Moody's) press release on 6 March 2024 and ratings action on the South African banks, including the ratings of Standard Bank Group Limited (SBG).

Included in the ratings action were upgrades to the long-term issuer rating of SBG from Ba3 to Ba2. The full list of rating changes is set out below. The outlook on the ratings is stable.

Entity	Rating type	Previous rating	Adjusted Rating
Standard Bank Group Limited	LT Issuer Rating (Foreign)	Ba3	Ba2
Standard Bank Group Limited	LT Issuer Rating (Domestic)	Ba3	Ba2
Standard Bank Group Limited	Senior Unsecured MTN (Foreign)	(P)Ba3	(P)Ba2
Standard Bank Group Limited	Subordinate (Foreign)	B1	Ba3
Standard Bank Group Limited	Subordinate MTN (Foreign)	(P)B1	(P)Ba3

The rating action resulted from the application of Moody's Advanced Loss Given Failure (Advanced LGF) analysis to South African banks following the publication of Moody's updated Banks Methodology on 5 March 2024.

https://www.moodys.com/credit-ratings/Standard-Bank-Group-Limited-credit-rating-600038208

7 March 2024

For further information, please contact:

Marc Hearn

Standard Bank Group Limited
9th Floor
5 Simmonds Street, Johannesburg PO Box 2001
South Africa
Telephone number: [phone]

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This Announcement is not intended to, and shall not, constitute or contain an offer to sell or solicitation of an offer to purchase the securities referred to herein by any person in any jurisdiction where it is unlawful to make an offer or solicitation. The distribution of the Announcement and the offer or sale of the securities referred to herein in certain jurisdictions is restricted by law. This Announcement may not be used for or in connection with, and does not constitute, any offer to, or solicitation by, anyone in any jurisdiction or under any circumstance in which such offer or solicitation is not authorised or is unlawful.

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