Limassol, August 15, 2014 -- Moody's Investors Service has today downgraded Capitec Bank Limited's (Capitec) deposit ratings to Ba2/NP from Baa3/P-3, and its national-scale issuer ratings to Baa1.za/P-2.za from A2.za/P-1.za. In addition, the rating agency downgraded the bank's standalone bank financial strength rating (BFSR) to D, equivalent to a ba2 baseline credit assessment (BCA), from D+/ba1. Concurrently, all ratings were placed on review for further downgrade, with the exception of the short-term Not-Prime ratings.
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