credit ratings
The ratings of Namibian-based banks are constrained by the country’s sovereign rating. This is due to the direct and indirect impact of sovereign distress on domestic banks’ operations.
First National Bank of Namibia Limited (FNBN or the bank) is a wholly owned subsidiary of FirstRand Namibia. FNBN is the primary debt issuing entity in the FirstRand Namibia group. The bank has solicited ratings from Moody’s Investor Services (Moody’s).
Namibia sovereign rating | First National Bank Namibia | |||||
Outlook | Long-term issuer rating | Outlook | Bank deposit rating | Standalone credit rating* |
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Long-term | Short-term | |||||
Moody's | Stable | B1 | Stable | Ba2 | N/P | b1 |
* | Refers to a rating agency’s measure of a bank’s intrinsic creditworthiness before considering external factors, e.g. affiliate or government support. Moody’s uses the baseline credit assessment. |
Source: Moody’s. |