BARLOWORLD LIMITED - BIBAW - Ratings Update

BIBAW - Ratings Update

Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Bond issuer code: BIBAW)
(“Barloworld” or “the group”)

RATINGS UPDATE

On 2 May 2018 Moody’s Investor Services (“Moody’s”) affirmed Barloworld Limited’s
(“Barloworld”) long-term and short-term issuer Global Scale Ratings of Baa3 and P-3, and also
affirmed the long-term and short-term National Scale Ratings of Aa1.za and P-1.za. On 27 March
2018 Moody’s changed the outlook on the ratings of Barloworld from negative to stable following
the change of outlook on the Baa3 sovereign rating of South Africa.

Moody’s reported that this rating recognises Barloworld’s leading competitive market positions,
supported by strong brand offerings and stable long term relationships with its principal suppliers,
together with a diversified product mix and resilient business model. The ratings also consider
Barloworld’s good liquidity position resulting from its favorable debt maturity profile. The full
Moody’s rating report on Barloworld will be available online at www.Barloworld.com.

Further details are available on Moody’s website or press release.

Johannesburg
04 May 2018

Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)

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