NEW DEVELOPMENT BANK - New Development Bank Rating Action by Fitch Ratings

New Development Bank Rating Action by Fitch Ratings

New Development Bank
(Established by the Articles of Agreement on the New Development Bank – Fortaleza, July 15, 2014)
Issuer Code: NDBI
(“the Issuer”)

New Development Bank Rating Action by Fitch Ratings

In accordance with paragraph 6.8 of the JSE Debt Listings Requirements, noteholders are hereby advised
that on 18 July 2022, Fitch Ratings (Fitch) downgraded New Development Bank's (NDB) Long-Term
Issuer Default Rating (IDR) to 'AA' from 'AA+'. The Outlook is Negative. Fitch has also affirmed NDB's
Short-Term IDR at 'F1+'.

Further details on the rating action can be viewed on the following link:

https://www.fitchratings.com/research/sovereigns/fitch-downgrades-new-development-bank-to-aa-
outlook-negative-18-07-2022


Johannesburg
19 July 2022


Debt Sponsor
The Standard Bank of South Africa Limited

Date: 19-07-2022 01:40:00
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