NEW DEVELOPMENT BANK - New Development Bank Rating Action by Fitch Ratings

New Development Bank Rating Action by Fitch Ratings

New Development Bank
(Established by the Articles of Agreement on the New Development Bank – Fortaleza, July 15, 2014)
Issuer Code: NDBI
(“the Issuer”)

New Development Bank Rating Action by Fitch Ratings

In accordance with paragraph 6.8 of the JSE Debt Listings Requirements, noteholders are hereby advised
that on 17 March 2022, Fitch Ratings (“Fitch”) revised the Outlook on New Development Bank's (NDB)
Long-Term Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'AA+'. Fitch has
also affirmed NDB's Short-Term IDR at 'F1+'.

Further details on the rating action can be viewed on the following link:

https://www.fitchratings.com/research/sovereigns/fitch-revises-outlook-on-new-development-bank-to-
negative-affirms-at-aa-17-03-2022

Johannesburg
18 March 2022


Debt Sponsor
The Standard Bank of South Africa Limited

Date: 18-03-2022 04:00:00
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