On March 7, 2016, we revised our assessment of South Africa-based intermediary non-operating holding company Barclays Africa Group Ltd.'s (BAGL's) strategic importance to Barclays PLC to non-strategic from strategically important. We are therefore lowering our South Africa national scale ratings on BAGL to 'zaA/zaA-2' from 'zaAA-/zaA-1'. At the same time, we are affirming our 'zaAA-/zaA-1' South Africa national scale ratings on its subsidiary Absa Bank Ltd. (Absa). Our national scale ratings do not carry outlooks. The ratings on BAGL and Absa are based on factors that support our group credit profile assessment for the Barclays Africa Group and our ratings on South Africa. On March 9, 2016, Standard&Poor's Ratings Services lowered its long- and short-term South Africa national
