Liberty Group Credit Rating Adjustment:
LIBERTY GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 1957/002788/06)
Issuer Code: BILGL
("Liberty") or ("the Issuer")
Amendment to Liberty Group Limited Credit Rating
In accordance with paragraph 7.42 of the JSE Debt Listings
Requirements, noteholders are hereby advised of the amendment to
Liberty's credit rating effective on 26 November 2019.
On 22 November 2019, S&P Global Ratings ("S&P") revised its
outlook on the foreign and local currency sovereign rating on
South Africa from stable to negative. Noteholders are hereby
advised that S&P has accordingly revised Liberty's credit
ratings as per below:
Rating affirmed at zaAAA on Liberty's long-term South African
national scale rating.
Ratings affirmed at zaAA on the Issuer's non-deferrable
subordinated notes:
-LGL04
-LGL05
Ratings to zaA+ from zaAA- on the Issuer's deferrable
subordinated notes:
-LGL06
-LGL07
-LGL08
-LGL09
-LGL10
For commentary on detailed ratings please refer to the S&P's
press release on their website:
www.standardandpoors.com
Johannesburg
28 November 2019
Debt Sponsor: The Standard Bank of South Africa Limited
Date: 28-11-2019 11:51:00
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