Fitch maintains Absa Group Limited's 'BB-' rating with stable outlook
The rating agency Fitch Ratings on Wednesday (January 4th) maintained the long-term issuer default ratings (IDR) of Absa Group Limited (ABL), a financial services group based in South Africa, at "BB-", together with stable outlook. The bank has also received a government support rating (GSR) of “B+” and has been placed on negative rating watch (RWN), pending the implementation of banking resolution legislation implemented in South Africa in over the next 18 months, providing a credible framework for the senior creditors' bail-in.