INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - Long-Term National Scale Issuer Rating Assigned

Long-Term National Scale Issuer Rating Assigned

INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA (“IDC”)


REGISTRATION NUMBER: 1940/014201/06


JSE Code:        ISIN:
IDCG02           ZAG000110164
IDCG03           ZAG000110149
IDCG04           ZAG000121682
IDCG05           ZAG000121716
IDCG06           ZAG000121732
IDCG07           ZAG000131350
IDCG08           ZAG000131368
IDCG09           ZAG000141011
IDCG10           ZAG000141029
IDCG11           ZAG000141037
IDCP04           ZAG000100629
IDCP05           ZAG000103896
IDCP06           ZAG000120395



MOODY’S     ASSIGNS      A   ‘AA1.za’     LONG-TERM     NATIONAL   SCALE    ISSUER    RATING     TO
INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA (IDC)


Moody’s Investor Service, (“Moody’s) today assigned a first-time long-
term national scale issuer rating (NSR) of Aa1.za to the IDC.                              The
rating is effective from August 10, 2017.


Moody’s notes that IDC’s national scale rating of Aa1.za is directly
mapped for its long-term global scale issuer rating of Baa3 (negative
outlook), reflecting the IDC’s strong relative creditworthiness among
debt   issuers     in    South   Africa.        IDC’s   ratings    also    incorporate     the
rating agency’s assumptions of a high probability of government support
in   case   of    need,      owing   to   its   full    government   ownership       and   the
developmental and policy role that it plays in the market.


The report on the above mentioned rating action is available online at
www.moodys.com.


Johannesburg
11 August 2017


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

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