DEVELOPMENT BANK OF SOUTHERN AFRICA - Amendment to the Development Bank of Southern Africa credit ratings - BIDBS
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Amendment to the Development Bank of Southern Africa credit ratings - BIDBS
THE DEVELOPMENT BANK OF SOUTHERN AFRICA
(Incorporated in the Republic of South Africa)
(“DBSA”) or (“the Issuer”)
Amendment to the Development Bank of Southern Africa (“DBSA” or
“the Company”) credit ratings
In accordance with paragraph 4.26 of the JSE Debt Listings
Requirements, noteholders are hereby advised of the amendment to
DBSA’s credit rating effective on 12 June 2017.
Moody’s Investors Service (“Moody’s” or “the agency”) has
downgraded DBSA’s long-term foreign-currency issuer rating to
Baa3 from Baa2. DBSA’s foreign-currency short-term issuer rating
was also downgraded to Prime-3 from Prime-2. A negative outlook
on the long-term global scale was assigned. At the same time
Moody’s affirmed the Aa1.za/P-1.za national scale issuer ratings
(NSRs) assigned to DBSA.
This rating action follows the weakening of the South African
government’s credit profile, as captured by Moody’s lowering of
the South African sovereign ratings to Baa3 from Baa2 on 9 June
2017.
For commentary on detailed ratings taken on DBSA please refer to
the following links:
www.moodys.com
www.dbsa.org
Johannesburg
15 June 2017
Debt Sponsor: The Standard Bank of South Africa Limited
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