Fitch drops Standard Bank of South Africa outlook to negative

Fitch Ratings said it revised the outlooks on the Standard Bank of South Africa Ltd. and its fellow subsidiaries, Standard International Holdings SA and Standard Bank plc, to negative from stable.

At the same time, the agency said it has affirmed the ratings of Standard Bank Group Ltd. and the three companies.

The negative outlook reflects Standard Bank of South Africa's deteriorating asset quality indicators and consequent impact on profitability, Fitch said.

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