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Published on 1/7/2009 in the Prospect News Emerging Markets Daily.

Fitch affirms iNkotha Investments

Fitch Ratings said it affirmed iNkotha Investments Ltd.'s national short-term rating at F1(zaf).

The affirmation follows the agency's satisfactory review of iNkotha's sponsor, Rand Merchant Bank, a division of FirstRand Bank Ltd., which is rated AA(zaf)/F1+(zaf) with negative view.

iNkotha is a South African bond fund program structured to issue up to ZAR10 billion of notes. The issuer advances overnight call loans to eligible rated obligors, Fitch said.


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