REAL PEOPLE INV HOLDINGS LIMITED - Moody's Investors Service Downgrades the National Scale Ratings of Real People Investment Holdings Limited - BIRP
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Moody's Investors Service Downgrades the National Scale Ratings of Real People Investment Holdings Limited - BIRP
Real People Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1999/020093/06)
Bond Issuer Code: BIRP
(“Real People”)
MOODY'S INVESTORS SERVICE DOWNGRADES THE NATIONAL SCALE RATINGS OF
REAL PEOPLE INVESTMENT HOLDINGS LIMITED
Noteholders are advised that Moody's Investors Service (“Moody’s”)
has, on 28th of February 2017, downgraded the National Scale Rating
of Real People to Caa2.za from B3.za and maintained the ratings
outlook as negative.
According to Moody’s the downgrade is a result of a deteriorating
solvency position as the company’s capital adequacy ratio approaches
its covenanted level of 30%, weak income generating capacity and
further expected losses, especially in East Africa and a weakened
liquidity position.
Noteholders are referred to the credit opinion released by Moody’s
for any additional information also available on the company’s
website at http://www.realpeoplegroup.co.za/index.php?nav=credit-
rating-reports.
01 March 2017
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
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