Fitch rates Nedbank notes BBB

Fitch Ratings said it assigned a BBB long-term rating to the €75 million floating-rate unsubordinated notes issued by Nedbank Ltd. (BBB).

The outlook is stable.

The notes will be issued during September under Nedbank's European medium-term note program and have a maturity of three years.

The agency said the notes will rank alongside the senior creditors of Nedbank, so the expected rating is equivalent to Nedbank's long-term issuer default rating.

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