Credit Rating Amendment Notification - BITRA:
Credit Rating Amendment Notification - BITRA
TRANSNET SOC Limited
Issuer Code: BITRA
(“TRANSNET”)
Credit Rating Amendment Notification
Noteholders are advised of the credit rating amendment by Moody’s Investors Service (“Moody’s”)
effective 4 April 2020
Following the downgrade on the South African government sovereign rating to Ba1 with a negative
outlook, Moody’s downgraded Transnet’s long-term local currency and foreign currency ratings from
'Baa3' to 'Ba1' and the Baseline Credit Assessment (BCA) from ‘Baa3' to ‘Ba1’, with the ratings placed on
review for downgrade. Moody’s has also revised Transnet’s national scale ratings to ‘Aa2.za’ from
‘Aa1.za’.
Moody's classifies Transnet as a Government-Related Issuer because it is wholly-owned by the
government.
The downgrade has no impact on Transnet’s existing debt.
Note holders are referred to Moody’s press release which is accessible on the following website:
https://www.moodys.com/viewresearchdoc.aspx?docid=PBC_ARFTL422175
08 April 2020
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 08-04-2020 01:48:00
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