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Credit Rating Announcement - BIRPIF
Resilient REIT Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2002/016851/06)
Company code: BIRPIF
(Approved as a REIT by the JSE)
(“Resilient” or “the Issuer”)
CREDIT RATING ANNOUNCEMENT
Noteholders are advised that the Issuer has formally accepted the rating assigned by Global Credit
Rating Co. (“GCR”) on 25 April 2018. GCR has assigned a national scale rating of AA-(za) in the long
term and A1+(za) in the short term with the outlook accorded as Stable.
The ratings are supported by Resilient’s large, quality property portfolio that mostly consists of
properties that are highly competitive in their submarkets. Resilient has a track record of developing
and operating large retail centres that can sustain positive rental increases and low vacancy rates. This
has translated into stable cash flows and earnings, which is considered a credit strength.
The report may be retrieved at www.resilient.co.za.
26 April 2018
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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