Fitch affirms Stanbic IBTC Holding Company Plc at ‘AAA

Fitch Ratings has affirmed Stanbic IBTC Holding Company Plc’s (SIBTCH) National Long-term rating at ‘AAA(nga)’ and National Short-term rating at ‘F1+(nga)’.

The affirmation follows Fitch’s rating action on South African banks on 17 June 2014, where the agency revised the Outlook on Standard Bank Group Limited’s (SBG) Long-term foreign currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the rating at ‘BBB’ (See “Fitch Revises Outlook on 4 South African Banks to Negative” dated 17 June 2014). SBG is SIBTCH’s ultimate parent, with a 53.2% ownership.

Press Release