BIBID - Notification of a Change to the Credit Rating of the Guarantor
BIBID - Notification of a Change to the Credit Rating of the Guarantor
Bidvestco Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1966/011512/06)
Company code: BIBID
(“Bidvestco”)
NOTIFICATION OF A CHANGE TO THE CREDIT RATING OF THE GUARANTOR
Noteholders are advised that Moody's Investors Service (“Moody’s” or the “agency”), has on [26]
November 2020 downgraded The Bidvest Group Limited’s (the “Guarantor”) corporate family rating
(“CFR”) from Ba1 to Ba2, with the rating outlook remaining as negative, in line with the sovereign
outlook.
The rating action by Moody’s follows the agency’s decision to downgrade South Africa’s government
issuer rating to Ba2 from Ba1, whilst maintaining a negative outlook, on 20 November 2020.
27 November 2020
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 27-11-2020 09:42:00
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