CORRECTED - BRIEF-Moody's cuts Standard Bank Plc issuer rating to Baa3

Fri Nov 6, 2009 6:44pm GMT
 
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(Corrects first bullet point to show it was the holding company's rating that was changed.

Adds 'Standard Bank' to fourth bullet point for clarity)

LONDON, Nov 6 (Reuters) - Standard Bank Plc (SBKJ.J): * Moody's downgrades the holding company's issuer rating of the unit of South Africa's Standard Bank Group by two notches to Baa3 * Moody's downgrades deposit rating to Baa2 from A3, subordinated rating to Baa3 from Baa1 * Moody's downgrades Standard Bank junior subordinated rating to Ba1 from Baa1, financial strength rating to D from C- * Moody's says downgrade reflects exposure to BRIC countries, although bank not suffered major losses on them so far (London Corporate Finance; +44 207 542 9202)

 

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