(The following statement was released by the rating agency)
March 29 –
Overview
— On March 28, 2012, we revised the outlook on the long-term sovereign
credit ratings on the Republic of South Africa to negative from stable, and
affirmed the ratings.
— We are therefore revising the outlook on Standard Bank of South Africa
Ltd. to negative from stable and affirming the unsolicited ‘BBB+/A-2’ ratings
on the bank.
— The ratings on SBSA reflect its ‘bbb’ anchor, as well as its strong
business position, moderate capital and earnings, adequate risk position,
average funding, and adequate liquidity.
— The negative outlook reflects that on the Republic of South Africa.
Rating Action
Continued…
