LAND & AGRICULTURAL DEV BANK OF SA - Credit Rating Review by Moody's Investor Services - LBK05 LBK07 LBK08 LBK11 LBK15-19

Credit Rating Review by Moody's Investor Services - LBK05 LBK07 LBK08 LBK11 LBK15-19

LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA
(“the Land Bank”)

Instrument Code     ISIN
                    ZAG000113572
      LBK05
                    ZAG000120007
      LBK07
                    ZAG000121005
      LBK08
                    ZAG000121955
      LBK11
                    ZAG000139890
      LBK15
                    ZAG000141144
      LBK16
                    ZAG000142787
      LBK17
                    ZAG000142795
      LBK18
                    ZAG000142977
      LBK19


LAND AND AGRICULTURAL BANK RATING REVIEW BY MOODY’S INVESTOR
SERVICES

In accordance with paragraph 4.26 of the JSE Debt Listings
Requirements, noteholders are hereby advised that the Land Bank’s
issuer rating of Baa2/Prime-2 by Moody’s Investor Services (“Moody’s”
or “the agency”) has been placed on review for a possible downgrade.

Moody’s bases its Baa2 rating review to reflect the increasing risk of
a weakening capacity of the South African government to support Land
Bank in case of need.

The Company’s credit profile could be revised in future if the
sovereign rating outlook changes or in the event of a weakening of the
Bank’s stand-alone credit profile.

Further details on the rating action can be viewed on the following
link:
www.landbank.co.za


12 April 2017
Debt Sponsor
The Standard Bank of South Africa Limited

For further information on the Notes issued please contact:
Kea Sape       SBSA                (011) 344 5674

Date: 12/04/2017 12:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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