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Credit Rating Announcement - PMM34 - PMM42
Premium Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/003601/06)
("Premium" or "the company")
Stock Codes:
PMM34 ZAG000142639
PMM36 ZAG000143637
PMM38 ZAG000144668
PMM39 ZAG000146499
PMM40 ZAG000146507
PMM41 ZAG000147893
PMM42 ZAG000148479
Credit Rating Announcement
Noteholders are referred to the Global Credit Ratings Co. (GCR)
announcement released on 6 December 2017 relating to the company’s
guarantor, Octodec Investments Limited’s credit rating.
GCR has downgraded the national scale Issuer ratings assigned to Octodec
Investments Limited (Octodec) to A-(ZA) and A1-(ZA) in the long term and
short term respectively; with the outlook accorded as Stable.
The key factors that have contributed to the downgrade are Octodec’s
concentrated debt maturity profile, as well as the challenging operating
environment.
A copy of the rating report can be obtained on request. Noteholders can
contact Anthony Stein anthony@cityprop.co.za, or Allister Lamont-Smith
allisterls@nedbank.co.za (as Debt Sponsor) for a copy of the report.
Johannesburg
08 December 2017
Debt Sponsor
Nedbank CIB
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