IMPERIAL GROUP LIMITED - Moody's Investor Services repositions the National Scale Ratings of Imperial Group Limited

Moody's Investor Services repositions the National Scale Ratings of Imperial Group Limited

Imperial Group Limited
(Incorporated in the Republic of South Africa)
Registration No. 1983/009088/06)
Bond issuer code: BIIMG
(“Imperial Group”)

MOODY'S INVESTOR SERVICES REPOSITIONS THE NATIONAL SCALE RATINGS OF
IMPERIAL GROUP LIMITED

Noteholders are advised that Moody's Investors Service (“Moody’s”)
has, on 11 May 2016, repositioned the National Scale Rating (NSR) of
Imperial Group, in conjunction with the recalibration of the South
African national rating scale and as part of the implementation of
Moody’s updated methodology.

Imperial Group’s NSR Issuer Rating (Local Currency), Repositioned to
Aa3.za from A2.za, Subordinated Medium-Term Note Program,
Repositioned to (P)A2.za from (P)A3.za, Senior Unsecured Seniority
Medium-Term Note Program, Repositioned to (P)Aa3.za from (P)A2.za,
Senior Unsecured Regular Bond/Debenture, Repositioned to Aa3.za from
A2.za, the Issuer Rating (Local Currency), Short-term global issuer
rating assigned P-3 and affirms the NSR Issuer short term rating
(Local Currency) at P-1.za.

Noteholders are referred to the press release by Moody’s for any
additional information.


17 May 2016

Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

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