Business Services Industry
MOODY'S TAKES RATING ACTIONS ON INVESTEC PLC AND ITS SUBSIDIARIES
Info-Prod Research (Middle East), December, 2007
Moody's Investors Service today announced thatit has downgraded the long-term foreign-currency rating of Investec Plcto Baa2 from Baa1 with a negative outlook. Moody's downgraded thepreferred stock issued by Investec Tier 1 (UK) LP to Ba1 from Baa3 with anegative outlook. The debt ratings on Investec Finance Plc, which isguaranteed by Investec Plc, have also been downgraded.
The outlookremains negative on all the ratings. Furthermore, Moody's has downgraded the long-term debt and depositratings of Investec Bank (UK) Ltd to Baa1 with a negative outlook from A3and the Bank Financial Strength Rating to C- with a stable outlook fromC. It affirmed the P-2 short-term ratings of both Investec Plc andInvestec Bank (UK) Ltd. This concludes the review for possible downgrade of the...
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