Fitch affirms Investec

Fitch Ratings said it affirmed Investec Bank Ltd.'s and its parent Investec Ltd.'s long-term and short-term foreign currency issuer default ratings at BBB and F3, respectively.

At the same time, the outlook was revised to negative from stable.

The ratings reflect a well-established specialist banking and asset management franchise and acceptable liquidity buffers, the agency said, noting that the ratings also consider weak asset quality and earnings and low levels of core and free capital.

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