DEVELOPMENT BANK OF SOUTHERN AFRICA - Credit rating announcement - DIDBS

Credit rating announcement - DIDBS

Development Bank of Southern Africa Limited
Registration number: 1600157FN
JSE alpha code: DIDBS
(“DBSA”)

CREDIT RATING ANNOUNCEMENT

Noteholders are advised that Moody’s Investors Service (“Moody’s”) has downgraded the Corporate
Family Rating (“CFR”) and long-term foreign currency issuer rating of DBSA to Ba2 from Ba1. At the
same time, Moody’s has downgraded DBSA’s long-term national scale issuer rating to Aa3.za from
Aa1.za. DBSA’s Baseline Credit Assessment (“BCA”) of ba3 has been affirmed and the outlook remains
negative based on the negative outlook on the sovereign’s rating.

The rating action reflects Moody’s assessment that rising fiscal pressures are increasingly
compromising the South African government’s ability to provide timely and adequate support to the
DBSA.

The full rating announcement will be made available upon request or can also be obtained on the
DBSA’s website at www.dbsa.org.


26 June 2020

Debt Sponsor
Nedbank Corporate and Investment Banking

Date: 26-06-2020 01:08:00
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