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Credit Rating Announcement
REBOSIS PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2010/003468/06)
JSE share code: REB ISIN: ZAE000201687
(Approved as a REIT by the JSE)
(“Rebosis”)
CREDIT RATING ANNOUNCEMENT
Rebosis would like to advise all its Shareholders that on 7 July 2016 Global Credit Ratings (“GCR”)
affirmed its national scale ratings to Rebosis of A-(za) and A1-(za) in the long term and short term
respectively.
The outlook on the rating is accorded as Evolving, recognising the notable headway that Rebosis has made
in the past two years with the acquisition of a 59% stake in Ascension, 67.5% of New Frontier and the
recently proposed R6 billion agreement to acquire three retail assets and services businesses from Billion
Group.
If successful, these acquisitions are expected to raise the value of the consolidated investments per IFRS to
c.R29 billion by FYE16, placing it amongst the JSE’s upper tier listed REITS.
The Evolving outlook accorded reflects both the potential upward rating impact of these changes, as well as
downward movement that would be warranted if high gearing metrics and a lumpy debt maturity profile
persist.
The full GCR rating report on Rebosis is available online at
https://globalratings.net/reports_section/companies/view/552
12 July 2016
Sponsor
Java Capital
Date: 12/07/2016 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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