🇿🇦 Johannesburg Stock Exchange

Fitch Ratings has upgraded five South African banks' National Long-Term Ratings to 'AA+(zaf)' from 'AA(zaf)' to reflect an improvement in their creditworthiness relative to the best credits in the country. They are Absa Bank Limited, FirstRand Bank Limited, Investec Bank Limited, Nedbank Limited and The Standard Bank of South Africa Limited.

Today, Bytes Technology Group, a leading IT company lists on the Johannesburg Stock Exchange’s (JSE) Main Board, making this the fifth company listing this year outside of Exchange Traded Products (ETPs). 

The JSE is excited to announce the listing of another series of ETNs from FNB, granting investors exposure to an array of eight different underlying assets which include multinational companies such as Ford Motor Company, PayPal Holdings Inc., Visa Inc., JP Morgan Chase and Co, and Goldman Sachs Group Inc. This follows last month’s listing of new Exchange Traded Notes (ETNs) by FNB which offers investors exposure to large, global companies such as Apple, Amazon and Facebook.

Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of five South African banks - Absa Bank Limited, FirstRand Bank Limited, Investec Bank Limited, Nedbank Limited and The Standard Bank of South Africa Limited - to 'BB-' from 'BB' and Viability Ratings (VRs) to 'bb-' from 'bb'. The Outlook on all IDRs is Negative.