| Mon 26 May 2008, 16:55 | | EQS - Eqstra - Standard & Poor`s Assign zaA/zaA-1 South Africa National |
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EQS
EQS
EQS - Eqstra - Standard & Poor`s Assign zaA/zaA-1 South Africa National
Scale Ratings
Eqstra Holdings Limited
(Formerly Imperial Investment Holdings (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1998/011672/06)
(Share code: EQS)
(ISIN number: ZAE000117123)
("Eqstra" or "the company")
STANDARD & POOR`S ASSIGN zaA/zaA-1 SOUTH AFRICA NATIONAL SCALE RATINGS
On May 19, 2008 Standard & Poor`s ("S&P`s) Ratings Services assigned its
`zaA/zaA-1` long- and short-term South Africa national scale ratings to Eqstra.
According to S&P`s research update, the national scale rating on Eqstra reflect
the company`s leading position in the South African vehicle leasing market; good
financial profile supported by solid profitability, satisfactory asset quality,
and good capitalization; a committed and entrenched management implementing a
clear and focused strategy; and adequate risk management architecture.
The research update from S&P further states that "Eqstra`s financial profile,
which is the separated and combined leasing operations of Imperial Holdings, is
solid and compares favourably with global peers predominantly active in
commercial and industrial leasing. In particular, Eqstra`s pro forma
profitability is robust, with return on equity in excess of 30% over the past
four years, which is expected to be sustained as a good level in the medium
term. Capitalization is at a good level, with adjusted total equity, as a
proportion of assets expected to stabilize to more then 17%. Due to good asset
quality, Eqstra manages to protect its margins and absorb high operating
charges."
Johannesburg
26 May 2008
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 26/05/2008 16:55:15 Produced by the JSE SENS Department.
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