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NQABA FINANCE 1 (RF) LIMITED - Withdrawal of Moodys Ratings Following Assignment of New GCR Ratings - NQA

Release Date: 19/05/2022 13:30
Code(s): NQ1B10 NQ1A10 NQ1A25 NQ1B21 NQ1A28 NQ1B17 NQ1C17 NQ1A27 NQF1D5 NQ1A24 NQ1B20 NQ1C10     PDF:  
Wrap Text
Withdrawal of Moody’s Ratings Following Assignment of New GCR Ratings - NQA

NQABA FINANCE 1 (RF) LIMITED
Registration Number 2005/040050/07
(JSE Alpha code: NQA)
(“NQABA" or the “Issuer”)

Nqaba – Withdrawal of Moody’s ratings following assignment of new GCR ratings

Bondholders are advised that Moody’s Investor Service Inc (“Moody’s”) has withdrawn the ratings
assigned to the notes issued by Nqaba with effect from 17 May 2022, as per the issuer’s request.

The full Moody’s action on Nqaba Finance 1 (RF) Limited is available online at:
https://www.moodys.com/research/Moodys-withdraws-ratings-of-Nqaba-Finance-1-RF-Limited-
for--PR_466089

Bondholders are reminded that GCR Ratings (“GCR”) assigned the following national and
international scale ratings to the notes issued by Nqaba with effect from 22 April 2022, and the
SENS issued by the issuer on 25 April 2022 and is summarized in the table below.

Summary of Credit Ratings assigned by GCR to the notes:



                           National Scale          International Scale    Outlook
                           Rating                  Rating

      NQ1A10 -
      ZAG000077686         AAA(ZA)(sf)             BB+(sf)                Stable

      NQ1A24 -
      ZAG000143991         AAA(ZA)(sf)             BB+(sf)                Stable

      NQ1A25 -
      ZAG000144007         AAA(ZA)(sf)             BB+(sf)                Stable

      NQ1A27 -
      ZAG000151531         AAA(ZA)(sf)             BB+(sf)                Stable

      NQ1A28 -
      ZAG000159583         AAA(ZA)(sf)             BB+(sf)                Stable

      NQ1B10 -
      ZAG000077702         AA(ZA)(sf)              BB(sf)                 Stable

      NQ1B17 -
      ZAG000126467         AA(ZA)(sf)              BB(sf)                 Stable

      NQ1B20 -
      ZAG000151549         AA(ZA)(sf)              BB(sf)                 Stable

      NQ1B21 -
      ZAG000159591         AA(ZA)(sf)              BB(sf)                 Stable

      NQ1C10 -
      ZAG000077694         AA(ZA)(sf)              BB(sf)                 Stable

      NQ1C17 -
      ZAG000126459         AA(ZA)(sf)              BB(sf)                 Stable

      NQF1D5 -
      ZAG000077678         AA-(ZA)(sf)             BB-(sf )               Stable


The full rating report is available on GCR Ratings website at
https://gcrratings.com/announcements/gcr-assigns-national-and-international-scale-issue-ratings-
to-notes-issued-by-nqaba-finance-1-rf-ltd-outlooks-stable/


For further information, please contact:
Eskom Finance Company SOC Ltd
Megawatt Park
Maxwell Drive
Sunninghill
2157

Ettienne Bester
Tel +27 11 800 5405
Email: besteret@eskom.co.za

Johannesburg

19 May 2022

Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)

Date: 19-05-2022 01:30:00
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