Moody's: Changes for South Africa banks

Moody's Investors Service said it published the rating results for banks in South Africa as part of the application of its refined joint default analysis and updated bank financial strength rating methodologies.

Following the application, FirstRand Bank Ltd.'s local-currency senior and subordinated debt ratings remain unchanged at A1 and A2, respectively, and the agency changed the commercial paper rating to Prime-1 from Prime-2 and the national ratings for senior obligations to Aa1.za from Aa2.za and for subordinated obligations to Aa2.za from Aa3.za.

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