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4 months ago
Nedbank in 'good shape' to deal with South Africa credit downgrade
April 4, 2017 / 8:21 AM / 4 months ago

Nedbank in 'good shape' to deal with South Africa credit downgrade

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JOHANNESBURG (Reuters) - South Africa's No.4 bank by value Nedbank said on Tuesday it was in good shape and well-prepared to deal with the volatility and pressure of sovereign rating downgrades.

S&P cut South Africa's credit rating to junk status on Monday, saying the dismissal by Zuma of a respected finance minister heralded a damaging policy shift.

Reporting by Tiisetso Motsoeneng; Editing by Joe Brock

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