Limassol, August 12, 2014 -- Moody's Investors Service has today downgraded African Bank Limited's long-term deposit and senior unsecured debt ratings to Caa2, from Ba1, and the standalone bank financial strength rating (BFSR) to E, from D, equivalent to a baseline credit assessment (BCA) of ca, from ba2. Concurrently, Moody's has downgraded African Bank Limited's national-scale issuer ratings to Caa2.za/NP.za from A3.za/P-2.za and the provisional (P) rating on its European Medium-Term Note (EMTN) subordinated debt programme to (P)C from (P)Ba3.

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