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INVESTEC BANK LIMITED - Investec Bank Limited: Fitch Ratings upgrades National Ratings

Release Date: 23/12/2020 15:00
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Investec Bank Limited: Fitch Ratings upgrades National Ratings

Investec Bank Limited
Incorporated in the Republic of South Africa
Registration number 1969/004763/06

Investec Bank Limited: Fitch Ratings upgrades National Ratings

Shareholders and noteholders are referred to the Fitch Ratings (Fitch) press release on 22
December 2020 where Fitch announced an upgrade to five South African banks' National
Long-Term Ratings, including Investec Bank Limited, to 'AA+(zaf)' from 'AA(zaf)'.
Simultaneously, Fitch has revised the Outlook on the National Long-Term Ratings to Stable
(from Negative).

This follows Fitch’s downgrade of South Africa’s sovereign rating to ‘BB-/Negative' from
'BB/Negative' on 20 November 2020 and the recalibration of the agency’s South African
National Ratings scale.

National scale ratings are a risk ranking of issuers in a particular market designed to help
local investors differentiate risk.

The specific rating changes for Investec Bank Limited are as follows:

                                                             To                From
 National long-term rating                                AA+(zaf)            AA(zaf)

 Subordinated National long-term rating                   AA-(zaf)            A+(zaf)

Fitch’s press release can be accessed on:

23 December 2020

N van Wyk
Company Secretary
Investec Bank Limited

Investec Bank Limited

Date: 23-12-2020 03:00:00
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