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^   Rating Watch Negative*
Moody's Long term deposit ratings
Foreign Currency   Baa3 Baa1 A1
National   Aa1.za    
Short term deposit ratings
Foreign Currency   P-3 P-2 P-1
National   P-1.za    
Outlook   Stable 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)    
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^   Rating Watch Negative*
Moody's Long term deposit ratings
Foreign Currency   Baa3 Baa1 A1
National   Aa1.za    
Short term deposit ratings
Foreign Currency   P-3 P-2 P-1
National   P-1.za    
Outlook   Stable 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)    
Short term ratings
International scale, local currency       A2
National scale   A1+(ZA)    
^On 2 August 2019, Fitch revised the Outlook of five South African banks to Negative (from Stable) following the Sovereign Outlook revision.
*On 1 March 2019, Fitch placed the Long Term Issuer Default Ratings (IDR) of 19 UK Banking Groups (including IBP) on Rating Watch Negative (RWN). This follows Fitch placing the UK sovereign's AA IDR on RWN as a result of Brexit uncertainty.

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