Imperial Holdings Limited - Ratings Affirmed
Imperial Holdings Limited
(Registration number 1946/021048/06)
("Imperial" or "the company")
ISIN Code: ZAE000003620
Share Code: IPL
Imperial announces that it has been independently rated by CA-Ratings and its
credit rating has been affirmed as follows:
- Ratings affirmed -
Imperial Holdings Limited:zaAA+ long-term,
zaA1+ short-term
CA-Ratings announces that it has affirmed its credit ratings assigned to
Imperial Holdings Limited after a fully interactive investigation based on the
normal rating mandate. The ratings are on the national scale for South Africa,
and remain zaAA+ long term and zaA1+ short-term, with a stable outlook for the
three-year time horizon.
The rating symbols indicate that Imperial Holdings is of very high investment
grade in credit terms on the South African national scale, compared to other
South African obligors. This is an exceptionally good result given the
competitive industries wherein Imperial Holdings operates.
Imperial Holdings is regarded to be one of the highest placed companies on the
JSE Securities Exchange and in corporate South Africa, in terms of credit
strength.
Imperial Holdings is a diversified mobility group within the transport and
logistics sector, and adds tourism, leasing and financial services to the
product range. As before, the group shows the benefits of entrepreneurial
motivation backed by financial conservatism. The portfolio approach to the
credit strength of the group remains valid, and the diversification into markets
and products with further growth potential is proceeding.
The ratings report refers in more detail to aspects such as the extent to which
Imperial Holdings has been able to grow or retain market share, the financial
policy, strong cash flow, future focus, contra-cyclicality in product offering
and the position of many of the Imperial divisions.
Edenvale
27 May 2003
Sponsor:
Merrill Lynch South Africa (Pty) Limited
Date: 27/05/2003 01:39:24 PM Supplied by www.sharenet.co.za
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