DEVELOPMENT BANK OF SOUTHERN AFRICA - AMENDMENT TO LOCAL AND FOREIGN CURRENCY CREDIT RATING - BIDBS

AMENDMENT TO LOCAL AND FOREIGN CURRENCY CREDIT RATING - BIDBS

THE DEVELOPMENT BANK OF SOUTHERN AFRICA
(Incorporated in the Republic of South Africa)
(“DBSA”) or (“the Issuer”)


Registration number: 1600157FN
JSE Company Code: BIDBS


Amendment to the Development Bank of Southern Africa (“DBSA” or
“the Company”) credit ratings

In accordance with paragraph 4.26 of the JSE Debt Listings
Requirements, noteholders are hereby advised of the amendment to
DBSA’s credit rating effective on 29 November 2017.

S&P Global Ratings (“S&P” or “the agency”) has downgraded DBSA’s
long-term foreign-currency issuer credit rating to BB/B from
BB+/B and the local currency issuer credit rating to BB+/B from
BBB-/A-3. Outlook is stable. The stable outlook reflects that on
South Africa.


This rating action follows the weakening of the South African
government’s credit profile, as captured by S&P’s lowering of
the South African foreign currency sovereign ratings to BB/B
from BB+/B and the local currency sovereign ratings to BB+/B
from BBB-/A-3 on 24 November 2017.


For commentary on detailed ratings taken on DBSA please refer to
the following links:
www.standardandpoors.com
www.dbsa.org

Johannesburg
30 November 2017


Debt Sponsor: Nedbank Corporate and Investment Bank, a division
of Nedbank Limited

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