REAL PEOPLE INV HOLDINGS LTD - Real People- GCR affirms Real People's International and National scale rating
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Real People- GCR affirms Real People's International and National scale rating
Real People Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1999/020093/06)
Bond Issuer Code: BIRP
(“Real People”)
GCR Affirms REAL PEOPLE’S International and National Scale
Ratings and Accords a Negative Outlook to These Ratings
Real People announces that Global Credit Ratings (“GCR”) has,
on 30 June 2014, affirmed its national scale ratings of
BBB(ZA) and A2(ZA) in the long- and short-term, respectively.
The BB international scale rating assigned to Real People has
also been affirmed by GCR. The outlook accorded to the
international and national scale ratings have been changed to
negative from stable.
According to GCR, Real People’s ratings are constrained by its
asset quality metrics, relatively high funding concentrations
and its exposure to the unsecured lending industry mitigated
in turn by the group’s good risk management practices and
strong business model.
GCR has further indicated that, whilst an upgrade is unlikely
in the near term, the challenging operating environment may
lead to a downgrade should asset quality and profits remain
under pressure resulting in a weakened capital buffer and/or
in the event that the group is unable to raise additional
capital or access sufficient market funding.
GCR’s press release can be found on Real People’s website
(www.realpeoplegroup.co.za).
3 July 2014
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
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