TRANSNET SOC LIMITED - BITRA - S&P Global Ratings lifts the credit watch on Transnet ratings on the back of improved liquidity

BITRA - S&P Global Ratings lifts the credit watch on Transnet ratings on the back of improved liquidity

Transnet SOC Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1990/000900/30)
Issuer Bond Code: BITRA
(“Transnet”, “the Company” or the “Issuer”)


S&P GLOBAL RATINGS LIFTS THE CREDIT WATCH ON TRANSNET RATINGS ON
THE BACK OF IMPROVED LIQUIDITY

Noteholders are informed that S&P Global Ratings (“S&P”) has, on 25 July 2022, affirmed all
Transnet’s ratings, on the back of the company’s improved liquidity position. This includes
Transnet’s long-term local and foreign currency issuer ratings at BB-, the standalone rating at
bb- and the National Scale Rating (NSR) at za.AA. S&P has lifted credit watch on Transnet
ratings and outlook remains negative.

Transnet confirms that it has secured sufficient funding to successfully redeem the USD 1
billion, TNUS22 bond and also support its liquidity requirements.

Transnet notes S&P comments regarding the company’s operational challenges, and continues
with its strategic initiatives to address these.

For a detailed analysis of the rating, please refer to the following link:
https://www.transnet.net/InvestorRelations/SENS%20Announcements/RatingsDirect_ResearchUpd
ateTransnetSOCLtdBBRatingsAffirmedOnImprovedLiquidityOutlookNegative_52228168_Jul-25-
2022.PDF

Johannesburg
25 July 2022

JSE Debt Sponsor
Absa Corporate and Investment Bank (a division of Absa Bank Limited)

Date: 25-07-2022 01:47:00
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