Fitch revises views on South African banks to stable

Fitch Ratings said it revised the outlooks on the long-term issuer default ratings of five South African banks – Absa Bank Ltd., FirstRand Bank Ltd., Investec Bank Ltd., Nedbank Ltd. and the Standard Bank of South Africa – to stable from negative and affirmed the IDRs at BB-.

Fitch also revised the outlooks on the long-term IDRs of four South African bank holding companies – Absa Group Ltd., Investec Ltd., Nedbank Group and Standard Bank Group – to stable from negative and affirmed the IDRs at BB-.

The rating actions follow the revision of the outlook on South Africa's long-term IDRs to stable from negative on Dec. 15.

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