REAL PEOPLE INV HOLDINGS LTD - Rating Outlook Remains Unchanged
RP006 RP007 RP008 RPS002 RP020 RPS001 RP016 RP013 RP014 RP005 RP026 201507030020A
Rating Outlook Remains Unchanged
Real People Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1999/020093/06)
Bond Issuer Code: BIRP
(“Real People”, “the Group”)
REAL PEOPLE RATING OUTLOOK REMAINS UNCHANGED
Real People announces that Global Credit Rating Co(“GCR”) has,
on 01 July 2015, affirmed the BB+(ZA)/ B(ZA) national scale
issuer ratings and BB international scale rating assigned to
the Group.
The outlook for the ratings is unchanged and remains negative.
GCR have cited that the ratings reflect the weakened financial
profile of the Group amidst the continued challenging
operating environment albeit partially offset by the group’s
successful capital raise of R385m in December 2014.
According to GCR, the negative rating outlook is a reflection
of the asset quality pressures prevailing in the unsecured
lending market, coupled with the funding risks the group faces
in the wake of a decline in investor appetite following
African Bank’s collapse.
The updated GCR credit opinion can be found on Real People’s
website
(http://www.realpeoplegroup.co.za/index.php?nav=credit-rating-
reports)
3 July 2015
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
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