| Mon 19 Dec 2011, 14:39 | | BIMS - Macquarie Securities South Africa (Proprietary) Limited - Ratings |
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JSE
BIMS
BIMS - Macquarie Securities South Africa (Proprietary) Limited - Ratings
announcement.
Rating Agency: Standard & Poor`s ("S&P")
Subsequent to the Standard & Poors Rating Services criteria based rating
actions affecting Macquarie Group Ltd on 1 December 2011; and in accordance
with paragraph 4.25 of the JSE Debt Listings Requirements, noteholders are
advised that:
1. The South Africa national scale long term credit rating of the ZAR5billion
Note Programme (the "Programme") established by Macquarie Securities South
Africa (Proprietary) Limited (the "Issuer") was lowered to ZaAA-, from ZaAA+.
Simultaneously, based on S&P`s global ratings scale, the long-term local
currency credit rating was lowered to BBB, from A-.
2. The South Africa national scale short term credit rating of the Issuer`s
Programme was affirmed at ZaA-1. Simultaneously, based on S&P`s global
ratings scale, the short term local currency credit rating was affirmed at A-
2.
The global scale ratings on the Programme are equalised with the credit
rating on the Issuer`s Australia-based parent company, Macquarie Group
Limited ("MQG") (BBB/Stable/A-2), reflecting a guarantee from MQG. The parent
has unconditionally and irrevocably guaranteed timely payment in terms of all
the notes issued under the Programme. The Programme`s national scale ratings
are based on its "BBB" global scale local currency long term rating, and are
consistent with the mapping guidelines for S&P`s national credit rating scale
for South Africa, as outlined in the criteria article, "Standard and Poor`s
Provides Mapping Guidance For Its South Africa National Credit Rating Scale",
published December 2007 on Global Credit Portal Ratings Direct at
www.globalcreditportal.com.
For further information on the Note issued please contact:
Sponsor - SBSA
Andrew Costa
Tel:(011) 378 7008 Email:andrew.costa@standardbank.co.za
Dated: 19 December 2011
Date: 19/12/2011 14:39:01 Produced by the JSE SENS Department.
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