Announcements

GCR affirms and withdraws AfrAsia Bank Zimbabwe Limited’s rating.

Johannesburg, 18 Feb 2015— Global Credit Ratings has affirmed the national scale long term and short term rating assigned to AfrAsia Bank Zimbabwe Limited of LD(ZW). At the same time, Global Credit Ratings has withdrawn the ratings assigned to AfrAsia Bank Zimbabwe Limited at the client’s request.

NATIONAL SCALE RATINGS HISTORY

Initial rating (Jun/2006)

Long term: BBB+(ZW); Short term: A2(ZW)

Rating Watch

Last rating (Oct/2014)

Long term: LD(ZW); Short term: LD(ZW)

Outlook: n.a

ANALYTICAL CONTACTS

Primary Analyst

Kuzivakwashe Murigo

Credit Analyst

(011) 784-1771

murigo@globalratings.net

Committee Chairperson

Omega Collocott

Sector Head: Financial Institution Ratings

(011) 784-1771

omegac@globalratings.net

APPLICABLE METHODOLOGIES AND RELATED RESEARCH

Banking Criteria (updated April 2014)

Zimbabwe Bank Bulletin (December 2014)

Previous Rating Reports (up to 2013)

RATING LIMITATIONS AND DISCLAIMERS

ALL GCR’S CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://GLOBALRATINGS.NET/UNDERSTANDING-RATINGS. IN ADDITION, GCR’S RATING SCALES AND DEFINITIONS ARE ALSO AVAILABLE FOR DOWNLOAD AT THE FOLLOWING LINK: HTTP://GLOBALRATINGS.NET/RATINGS-INFO. GCR’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, PUBLICATION TERMS AND CONDITIONS AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE AT HTTP://GLOBALRATINGS.NET.

GLOSSARY OF TERMS/ACRONYMS USED IN THIS DOCUMENT AS PER GCR’S FINANCIAL INSTITUTIONS GLOSSARY

Credit rating An opinion regarding the creditworthiness of an entity, a security or financial instrument, or an issuer of securities or financial instruments, using an established and defined ranking system of rating categories.
Long Term Rating A long term rating reflects an issuer’s ability to meet its financial obligations over the following three to five year period, including interest payments and debt redemptions. This encompasses an evaluation of the organisation’s current financial position, as well as how the position may change in the future with regard to meeting longer term financial obligations.
Short term Rating A short term rating is an opinion of an issuer’s ability to meet all financial obligations over the upcoming 12 month period, including interest payments and debt redemptions.
Rating Outlook A Rating outlook indicates the potential direction of a rated entity’s rating over the medium term, typically one to two years. An outlook may be defined as: “Stable” (nothing to suggest that the rating will change), “Positive” (the rating symbol may be raised), “Negative” (the rating symbol may be lowered) or “Evolving” (the rating symbol may be raised or lowered).
Rating Watch Indicates that a rating is under review for possible change in the short-term, and the movement may be either positive or negative.

GCR affirms and withdraws AfrAsia Bank Zimbabwe Limited’s rating.

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ALL GCR CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS, TERMS OF USE OF SUCH RATINGS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS, TERMS OF USE AND DISCLAIMERS BY FOLLOWING THIS LINK:HTTP://GCRRATINGS.COM. IN ADDITION, RATING SCALES AND DEFINITIONS ARE AVAILABLE ON GCR’S PUBLIC WEB SITE AT WWW.GCRRATINGS.COM/RATING_INFORMATION. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. GCR's CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THIS SITE.

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