S&P affirms Nedbank

Standard & Poor’s said it affirmed its BBB-/A-3 long- and short-term counterparty credit ratings on Nedbank Ltd. The outlook is stable.

At the same time, S&P affirmed its zaAA/zaA-1 long- and short-term South Africa national scale ratings on the bank.

“The affirmation reflects our expectation that Nedbank will continue to post resilient asset quality and positive earnings, despite the continuing economic and industry pressures in South Africa,” S&P said in a news release.

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