SOUTH AFRICAN SECURITISATION PROGRAMME (RF) LIMITED - New Rating assigned under South African Securitisation Programme (RF) Ltd Series 3

New Rating assigned under South African Securitisation Programme (RF) Ltd Series 3

South African Securitisation Programme (RF) Limited
(Registration No: 1991/002706/06)
Formerly called South African Securitisation Programme (Proprietary)
Limited
(with registration number 1991/002706/07)
(“South African Securitisation Programme”)
Incorporated with limited liability in the Republic of South Africa

GLOBAL CREDIT RATING CO (“GCR”) ASSIGNS NEW RATINGS UNDER THE SOUTH
AFRICAN SECURITISATION PROGRAMME (RF) LTD – SERIES 3

On 27 August 2021 GCR affirmed the national scale AAA(ZA)(sf) rating
assigned to the Class A notes with a Stable Outlook. At the same time
GCR downgraded the Class B notes from AAA(ZA)(sf) to AA+(ZA)(sf) and
the Class C notes from AA(ZA)(sf) to A-(ZA)(sf), both with Stable
Outlooks. The downgrade of the Class B and the Class C notes reflects
the strained operating environment and some deterioration of the credit
performance of the asset portfolio.

For further information please contact:

Mr. Dhesegan Govender (Sasfin Bank Limited)   (011) 809 7892

Waverley
27 August 2021

Debt Sponsor
Sasfin Bank Limited

Date: 27-08-2021 02:30:00
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