Moody’s downgrades Land Bank’s rating to Caa1; outlook negative
Moody’s downgrades Land Bank’s rating to Caa1; outlook negative
Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“Land Bank” or “the Issuer”)
Land and Agricultural Development Bank of South Africa: Moody’s downgrades Land Bank’s rating
to Caa1; outlook negative
Moody's Investors Service, ("Moody's") announced on 24 November 2020 the downgrading of Land Bank’s
corporate family rating (CFR) and long-term issuer ratings to Caa1 from B3, and its national scale issuer ratings
to B2.za from Ba2.za. The rating agency has downgraded Land Bank’s Baseline Credit Assessment (BCA) to
caa3 from caa2. The outlook remains negative.
Moody’s Rating Announcement is available on its website, www.moodys.com
24 November 2020
Enquiries
Land and Agricultural Development Bank of South Africa
Ayanda Kanana, Chief Executive Officer
Khensani Mukhari, Chief Financial Officer
Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 074 159 6833
Debt Sponsor
The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division
(registration number: 1962/000738/06) Contacts:
Ms Natalie Di-Sante
Email: Natalie.di-sante@standardbank.co.za
Tel: +27 (0) 11 721 6125
Date: 24-11-2020 03:00:00
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