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NQABA FINANCE 1 (RF) LIMITED - GCR Rating Action - Nqaba

Release Date: 26/04/2023 16:56
Code(s): NQ1A28 NQ1B17 NQ1A25 NQ1B21 NQ1C17 NQ1A27 NQF1D5 NQ1A24 NQ1B20 NQ1B10 NQ1A10 NQ1C10     PDF:  
Wrap Text
GCR Rating Action - Nqaba

NQABA FINANCE 1 (RF) LIMITED
Registration Number 2005/040050/07
(JSE Bond Issuer Code: NQA)
(“Nqaba Finance " or the “Issuer”)

GCR Ratings Update

Bondholders are advised that GCR Ratings (“GCR”) affirmed the national and international scale
issue ratings assigned to the existing Class A Notes issued by Nqaba Finance with Stable
Outlooks. The national and international scale issue ratings of the existing Class B Notes were
upgraded and affirmed respectively with Stable Outlooks. The national and international scale
issue ratings of the existing Class C and Class D Notes below were upgraded with Stable
Outlooks. The amendments were effective 25 April 2023.
Summary of updated 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           AAA(ZA)(sf)             BB+(sf)               Stable

 NQ1B17 -
 ZAG000126467           AAA(ZA)(sf)             BB+(sf)               Stable

 NQ1B20 -
 ZAG000151549           AAA(ZA)(sf)             BB+(sf)               Stable

 NQ1B21 -
 ZAG000159591           AAA(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-affirms-the-ratings-of-the-class-a-notes-and-upgrades-
ratings-of-the-class-b-c-and-d-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
26 April 2023

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

Date: 26-04-2023 04:56:00
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