CLINDEB INVESTMENTS LIMITED - BICI-Credit Rating Amendment of Netcare Limited by CGR

BICI-Credit Rating Amendment of Netcare Limited by CGR

CLINDEB INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1991/001634/06)
Issuer Code: BICI
Netcare Limited: “the Guarantor”

Credit Rating Amendment of Netcare Limited by CGR

Noteholders are advised that the Guarantor’s long-term and
short-term national scale issuer ratings have been affirmed as
AA-(za) and A1+(za) respectively. The rating outlook has been
revised from Negative to Stable effective on 3 February 2022.

The revision of the outlook to Stable on Netcare Limited’s
(“Netcare” or “the Group”) ratings reflects the improvement in
its earnings and gearing profiles (albeit not yet to pre-
pandemic levels) as the Group has efficiently managed its
operations amidst the COVID-19 related disruptions. Further, the
Group’s ratings remain underpinned by its robust domestic market
position and strong liquidity profile.

The detailed report may be obtained on www.cgrratings.com.

Johannesburg
4 February 2022
Debt Sponsor
The Standard Bank of South Africa Limited

Date: 04-02-2022 11:47:00
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