ABF007 - Credit Rating Amendment
AB FINCO 1 (RF) LIMITED
Bond Code: ABF007
ISIN: ZAG000165515
CREDIT RATING ANNOUNCEMENT
GCR Ratings (“GCR”) has downgraded the following national scale long term issue credit rating for the
Notes issued by AB Finco 1 (RF) Limited (“AB Finco 1” or the “Issuer”) under its Series 7.
The rating of the Notes reflects the ability of each underlying borrower to make the payments due in
accordance with the terms of each respective Loan Agreement sold to the Issuer. GCR’s ratings of the
issued Notes in respect of each Series are therefore based on a credit linkage approach to the long-term
unsecured credit ratings of the respective underlying borrowers.
Transaction Stock Code Amount Rating Class Rating Outlook
Series 7 ABF007 R2.09bn Long Term Issue A(ZA)(sf) Negative
The full rating report is available on GCR’s website at
https://gcrratings.com/announcements/gcr-downgrades-ratings-of-notes-issued-by-ab-finco-
1-rf-limited-under-series-7/
Johannesburg
29 November 2021
Debt Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 29-11-2021 05:15:00
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