SPG - Super Group - Fitch Re-Affirms Super Group A-(ZAF), Outlook Stable
SPG
SPG
SPG - Super Group - Fitch Re-Affirms Super Group A-(ZAF), Outlook Stable
And Removes Rating Watch Negative
Super Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1943/016107/06)
ISIN number: ZAE000011334
Share code: SPG
("Super Group")
Fitch re-affirms Super Group A-(ZAF), outlook stable and removes rating
watch negative
Shareholders and bondholders are advised that Fitch Ratings has re-affirmed
Super Group`s National Long-term rating at Long-term A- (A minus)(zaf) and
Short-term F2(zaf) with stable outlook and removed the Ratings Watch
Negative.
The ratings reflect Super Group`s strong capabilities and leadership in the
supply chain and fleet solutions industries, robust operating profit
margins, strong operating performance and lower vulnerability to economic
cycles. The ratings also take into account the annuity-based nature of
contracts with blue-chip corporate clients and Super Group`s diversified
client base. Fitch further recognised that strategic investments and
initiatives have placed Super Group in a strong position to capitalise on
the growing construction and do-it-yourself markets.
The Stable Outlook reflects Fitch`s expectation that Super Group is in a
position to repay its corporate bond out of available cash and committed
credit lines in June 2008. The affirmation is in response to Super Group
securing a combination of committed facilities and other resources of not
less than R900 million. Super Group has strengthened its liquidity
management by maintaining committed standby facilities for general corporate
purposes. Super Group is exploring a number of corporate measures to improve
its longer-term liquidity and capital structure.
Sandton
4 February 2008
Sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 04/02/2008 14:56:01 Produced by the JSE SENS Department.
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