Business Services Industry
AUSTRALIA: MOODY'S TAKES RATING ACTIONS ON INVESTEC PLC AND ITS SUBSIDIARIES.
IPR Strategic Business Information Database, December, 2007
Moody's Investors Service today announced that it has downgraded the long-term foreign-currency rating of Investec Plc to Baa2 from Baa1 with a negative outlook. Moody's downgraded the preferred stock issued by Investec Tier 1 (UK) LP to Ba1 from Baa3 with a negative outlook. The debt ratings on Investec Finance Plc, which is guaranteed by Investec Plc, have also been downgraded.
The outlook remains negative on all the ratings. Furthermore, Moody's has downgraded the long-term debt and deposit ratings of Investec Bank (UK) Ltd to Baa1 with a negative outlook from A3 and the Bank Financial Strength Rating to C- with a stable outlook from C. It affirmed the P-2 short-term ratings of both Investec Plc and Investec Bank (UK) Ltd. This concludes the review for...
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