TKWI18 - Ratings Action by Moody's Ratings
The Thekwini Fund 18 (RF) Limited ("The Thekwini 18")
(incorporated with limited liability in the Republic of South
Africa)
(Registration number: 2015/327 767/06)
Issuer Code: TKWI18
Ratings Action by Moody's Ratings
Noteholders are advised that Moody's Ratings (Moody's) has announced, on 4 November 2024, that it has downgraded the
global scale ratings of the Class B Notes in The Thekwini 18.
This downgrade was prompted by a correction of a model input error by Moody's related to the calculation of the interest
accruing on the reserve fund.
None of the national scale ratings assigned to the Notes issued by The Thekwini 18 were affected.
For more details on the downgrade, please see below link to Moody's website:
https://www.moodys.com/research/Moodys-Ratings-downgrades-the-ratings-of-5-notes-in-two-Rating-Action--PR_498226
4 November 2024
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 04-11-2024 03:05:00
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