BICI-Credit Rating Amendment by GCR
CLINDEB INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1991/001634/06)
Issuer Code: BICI
Credit Rating Amendment by GCR
Pursuant to paragraph 6.8 of the Debt Listing Requirements of
the JSE Limited, issuers of listed debt in South Africa are
required to notify the market in the event of amendments to the
credit rating of the issuer. Accordingly, shareholders and
noteholders are hereby referred to the GCR announcement on the
8th February 2020.
GCR’s rating has remained unchanged and is based on the Group’s
strong domestic market position and liquidity profile. However,
the Outlook has been revised to Negative from Stable. The
Negative Outlook on the Guarantor, being Netcare Limited’s
(“Netcare” or “the Group”), ratings reflect the adverse impact
that COVID-19 continues to exert on its earnings and gearing
profile.
The GCR press release can be accessed on https://gcrratings.com/announ
cements
Johannesburg
10 February 2021
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 10-02-2021 02:22:00
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