Credit Ratings

Summary of our credit ratings

In general, we have been assigned strong ratings for credit quality, capacity for timely repayment and financial strength. In terms of our Dual Listed Companies structure, Investec plc and Investec Limited are treated separately from a credit point of view.

As a result, the rating agencies have assigned ratings to the significant banking entities within the group, namely Investec Bank plc and Investec Bank Limited.

Certain rating agencies have assigned ratings to the holding companies, namely, Investec plc and Investec Limited.
Rating agency   Investec Limited Investec Bank Limited - a subsidiary of Investec Limited Investec plc Investec Bank plc - a subsidiary of Investec plc
Fitch Long term ratings
Foreign Currency BB BB   BBB+
National AA(zaf) AA(zaf)    
Short term ratings
Foreign Currency B B   F2
National F1+ (zaf) F1+ (zaf)    
Outlook Negative^ Negative^   Negative
Moody's Long term deposit ratings
Foreign Currency   Ba1 Baa1 A1
National   Aa1.za    
Short term deposit ratings
Foreign Currency   NP P-2 P-1
National   P-1.za    
Outlook   Negative^ Stable Stable
S&P Long term deposit ratings
Foreign Currency   BB-    
National   za.AA    
Short term deposit ratings
Foreign Currency   B    
National   za.A-1+    
Outlook   Stable^    
Global Credit Ratings Long term ratings
International scale, local currency   BB   BBB+
National scale   AA(za)    
Outlook   Negative^    
Short term ratings
International scale, local currency       A2
National scale   A1+(ZA)    
Rating agency   Investec Limited Investec Bank Limited - a subsidiary of Investec Limited Investec plc Investec Bank plc - a subsidiary of Investec plc
Fitch Long term ratings
Foreign Currency BB BB   BBB+
National AA(zaf) AA(zaf)    
Short term ratings
Foreign Currency B B   F2
National F1+ (zaf) F1+ (zaf)    
Outlook Negative^ Negative^   Negative
Moody's Long term deposit ratings
Foreign Currency   Ba1 Baa1 A1
National   Aa1.za    
Short term deposit ratings
Foreign Currency   NP P-2 P-1
National   P-1.za    
Outlook   Negative^ Stable Stable
S&P Long term deposit ratings
Foreign Currency   BB-    
National   za.AA    
Short term deposit ratings
Foreign Currency   B    
National   za.A-1+    
Outlook   Stable^    
Global Credit Ratings Long term ratings
International scale, local currency   BB   BBB+
National scale   AA(za)    
Outlook   Negative^    
Short term ratings
International scale, local currency       A2
National scale   A1+(ZA)    
^Revision of the Outlook of the South African banks to Negative (from Stable) followed the Sovereign Outlook revisions on 2 August 2019 and 5 November 2019 by Fitch and Moody’s, respectively. Revision of the Outlook of the South African banks to Stable (from Negative) followed the Sovereign Outlook downgrade on 7 May 2020 by S&P. Revision of the Outlook for the GCR issuer ratings announced on 10 July 2020 follows a reduction in the South African country risk score on 27 May 2020 and the financial institutions sector risk score on 24 June 2020.

Contact our Investor Relations teams in South Africa or the United Kingdom.

For SA enquiries
+27 (0)11 286 7070
 
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+44 (0)20 7597 5546
 
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