THE THEKWINI FUND 10 (RF) LIMITED - Moody's Recalibrates South Africa's National Rating Scale and Repositions National Scale Ratings in Structured Finan
TH10B1 TH10B2 TH10C1 TH10C2 201605180020A
Moody's Recalibrates South Africa's National Rating Scale and Repositions National Scale Ratings in Structured Finan
The Thekwini Fund 10 (RF) Limited
(incorporated with limited liability in the Republic of South
Africa)
(Registration number 2012/030 394/06)
Instrument Code: TH10B1 ISIN: ZAG000096090
Instrument Code: TH10B2 ISIN: ZAG000100967
Instrument Code: TH10C1 ISIN: ZAG000096116
Instrument Code: TH10C2 ISIN: ZAG000100983
Moody's Recalibrates South Africa's National Rating Scale and
Repositions National Scale Ratings in Structured Finance
Transactions
Noteholders are advised of Moody’s Investor Service’s recent
repositioning of the national scale ratings of 33 South
African structured finance notes in conjunction with the
recalibration of South African national rating scale.
Kindly take note of the below instruments which have been
affected by the change in Moody’s methodology change below:
Instrument Tranche Prior Prior Current/Revised
Number Rating National National Scale
Scale Rating
Rating
ZAG000096090 B1 Baa2 A1.za Aaa.za
ZAG000096116 C1 Ba1 A3.za A1.za
ZAG000100967 B2 Baa2 A1.za Aaa.za
ZAG000100983 C2 Ba1 A3.za A1.za
For more details on the revision of the ratings methodology
process, please see below link to Moody’s website:
https://www.moodys.com/research/Moodys-recalibrates-South-
Africas-national-rating-scale-and-repositions-national--
PR_348599
18 May 2016
Debt Sponsor
The Standard Bank of South Africa Limited
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