BANK WINDHOEK LIMITED - Bank Windhoek Limited's Namibian And South African Credit Ratings Affirmed And Revised Upward With Stable Outlook

Bank Windhoek Limited's Namibian And South African Credit Ratings Affirmed And Revised Upward With Stable Outlook

BANK WINDHOEK LIMITED
(Incorporated in the Republic of Namibia)
Stock Code: BWZJ21
ISIN Code: ZAG000140286
Stock Code: BWZ21B
ISIN Code: ZAG000150459
Stock Code: BWZJ23
ISIN Code: ZAG000155508

BANK WINDHOEK LIMITED'S NAMIBIAN AND SOUTH AFRICAN CREDIT RATINGS
AFFIRMED AND REVISED UPWARD WITH STABLE OUTLOOK

Noteholders are advised that the rating agency Global Credit Rating Company has
reviewed the Namibian and South African ratings of Bank Windhoek Limited
("Bank Windhoek").

Bank Windhoek's Namibian long and short-term issuer ratings were affirmed at
AA(NA)/A1+(NA), with a Stable outlook.

Bank Windhoek's South African national scale long-term issuer rating has been revised
upward to A(ZA), from A-(ZA), with a Stable outlook.

GCR states, "The Stable Outlook is premised on the Capricorn Group maintaining a strong
market position in the Namibian banking sector, while asset quality is expected to hold up well,
even under highly challenging and uncertain operating conditions. The Capricorn Group's
somewhat diverse revenue streams are also likely to soften the impact of the pandemic on
earnings, which, despite some moderation, is expected to remain sufficient in supporting
capital generation at expected levels."

29 September 2020

Debt Sponsor
PSG Capital

Date: 29-09-2020 05:15:00
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