LAND & AGRICULTURAL DEV BANK OF SA - Ratings Action: Moodys confirms Baa3 issuer ratings of Land Bank; Stable outlook
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Ratings Action: Moody’s confirms Baa3 issuer ratings of Land Bank; Stable outlook
The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“the Land Bank”)
Ratings Action: Moody’s confirms Baa3 issuer ratings of Land Bank; Stable outlook
On Tuesday 27 March 2018, Moody’s Investors Service (“Moody’s”) has confirmed the Baa3 long-term
local and foreign currency issuer ratings of the Land Bank. The Land Bank's local and foreign currency
short-term issuer ratings were also confirmed at Prime-3. The outlook on the long-term global scale
issuer ratings has changed to stable from rating under review. At the same time, the rating agency
confirmed the Aa1.za long-term national-scale issuer rating (NSR) of Land Bank, Land Bank’s P-1.za
short-term NSR was affirmed.
This follows Moody’s confirmation of the South African government's rating at Baa3 with a stable outlook
on Friday 23 March 2018.
The rating action concludes the review for downgrade that began on 28 November 2017.
28 March 2018
Enquiries
Land and Agricultural Development Bank of South Africa
Bennie van Rooy, Chief Financial Officer
Alleyne Smith – Tel: 012 686 0921
Debt Sponsor
The Standard Bank of South Africa Limited
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