TRANSSEC (RF) LIMITED - Credit rating upgrade - TRAA2, TRAB1, TRAC1, TRAD1

Credit rating upgrade - TRAA2, TRAB1, TRAC1, TRAD1

Transsec RF Limited
(Incorporated with limited liability in the Republic of South Africa)
(Registration number 2012/209822/06)
Formerly called Transsec Proprietary Limited (with registration number 2012/209822/07)
(“Transsec”)




Credit Rating Upgrade of Transsec RF Limited Notes

Date: 03 November 2017


Stock Code: TRAA2, TRAB1, TRAC1, TRAD1


Authorised Programme size                                               R4,000,000,000
Total notes issued                                                      R1,193,000,000


On October 31, 2017, S & P Global Ratings upgraded to 'zaAA (sf)' on Transsec (RF) Limited
class A2, B1 and C1 notes and upgraded to ‘zaA+ (sf) on Transsec (RF) Limited class D1 notes
(see list below)


          Stock Code                                         Class                       Rating From:                                                    Rating to:
            TRAA2                                             A2                           zaA (sf)                                                      zaAA (sf)
            TRAB1                                             B1                           zaA (sf)                                                      zaAA (sf)
            TRAC1                                             C1                           zaA (sf)                                                      zaAA (sf)
            TRAD1                                             D1                         zaBBB+ (sf)                                                     zaA+ (sf)


Please note that the ratings of the Class A2, Class B1 and Class C1 notes have been capped at
the long term national scale issuer credit rating of FirstRand Bank Ltd (zaAA), due to its role as
the transaction bank account provider.

Debt Sponsor
The Standard Bank of South Africa Limited




                                                                                                                                                                                  Transs ec RF Lt d
                                                                                                                                                        R e gi st r a t i o n N o. 2 0 1 2 / 2 0 9 8 2 2/ 0 6
                                                                                                                                             A T r a n s a c t i o n C a p i t al L i m i t e d c o m p a n y
                                                                                            1 7 9 – 1 5t h R o a d , R a n d j es p a r k , M i d r a n d • B o x 4 1 8 8 8 , C r a i g h a l l , 20 2 4
                                                                                                           T el : 0 1 1 5 5 0 9 3 0 0 • F a x : 0 1 1 4 4 7 2 8 8 5 • w w w . sa t axi . c o. z a
                                                                                                    D i r e ct o r s : L . C a r d o s o , O . F e r r e i r a * , R . T h a nt h o n y * , J . T r ev e n a *
                                                                                                                                                                                  ( * N o n- E x e c ut i v e )

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