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Credit ratings: FirstRand Bank Limited

FirstRand Bank's credit ratings reflect its strong market position as one of the Big 4 banks in South Africa, as well as its focused strategy, good core profitability, financial flexibility, robust risk management, and sound capitalisation.

Standard & Poor's (S&P)
(December 2011)

	Short- term	Long- term	Outlook
Foreign currency counterparty credit rating	A-2	BBB+	Stable
Local currency counterparty credit rating	A-2	BBB+	Stable

Moody's Investors Service
(February 2012)

	Short- term	Long- term	Outlook
Foreign currency bank deposit rating	P-2	A3	Negative
Domestic currency bank deposit rating	P-2	A3	Stable
National scale bank deposit rating	P-1.za	Aa2.za

Bank financial strength rating (BFSR)

C- (stable outlook)

Fitch Ratings
(January 2012)

	Short- term	Long- term	Outlook
Foreign currency issuer defaul rating (IDR)	F2	BBB+	Negative
Local currency issuer defaul rating (IDR)		BBB+	Negative
National rating	F1+(zaf)	AA(zaf)	Stable

Individual
C

Viability bbb+

Support rating
2

Support rating floor BBB-