African Bank Investments Ltd. and Moodys Investors Service

Moodys Investors Service: African Bank issued the one-year floating-rate note at the three-month Johannesburg Interbank Agreed Rate plus 90 basis points last July. Moodys Investors Service cut the lenders foreign rating to Ba1 in May, one step below investment grade, after it reported a record first-half loss, according to Bloomberg. The lenders capital requirements have declined as its business has shrunk, said Bruce Stewart, head of debt origination at Nedbank Capital in Johannesburg and African Bank Investments Ltd. ABL said it will repay investors when a 150 million-rand $14.3 million bond matures tomorrow, after record losses fanned speculation South Africas largest unsecured lender may need to raise funds. The repayment is consistent with our practice of settling bonds upon maturity, Nithia Nalliah, chief financial officer of Johannesburg-based bank known as Abil, said in an e-mailed response to questions yesterday. (news.financializer.com). As reported in the news.