Moody’s changes view on five South African banks

Moody’s Investors Service said it changed the outlooks to negative from stable on the Standard Bank of South Africa Ltd., FirstRand Bank Ltd., Absa Bank Ltd., Nedbank Ltd., and Investec Bank Ltd.

The action follows the change in outlook to negative from stable for South Africa and the affirmation of its Baa3 issuer rating

Moody’s affirmed all the banks’ ratings.

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