BLUE GRANITE NO 3 (RF) LIMITED - Moody's Recalibrates South Africa's National Rating Scale - BG32B/BG32C

Moody's Recalibrates South Africa's National Rating Scale - BG32B/BG32C

Blue Granite Investments 4 (RF) Ltd

(Incorporated with limited liability in the Republic of South Africa)

Registration number 2006/032191/06)

Bond Code: BG42B       ISIN No: ZAG000093808

Bond Code: BG42C       ISIN No: ZAG000093790

(“Blue Granite”) or (“the Company”)

Moody's Recalibrates South Africa's National Rating Scale Rating and
Repositions National Scale Ratings in Structured Finance Transactions

Noteholders are advised of Moody’s Investor Service’s recent repositioning of
the national scale ratings of 33 South African structured finance notes in
conjunction with the recalibration of South African national rating scale.

Kindly take note of the below instruments which have been affected by the
change in Moody’s methodology change below:



Instrument         Tranche      Current        Current    National   Revised
                   Number       Global         Scale Rating          National   Scale
                                Rating                               Rating
ZAG000093808       B            Baa2           A2.za                 Aaa.za
ZAG000093790       C            Ba2            Baa2.za               A3.za



For more details on the revision of the ratings methodology process, please
see below link to Moody’s website:

https://www.moodys.com/research/Moodys-recalibrates-South-Africas-national-
rating-scale-and-repositions-national--PR_348599


Johannesburg
23 May 2016

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 23/05/2016 03:59:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.