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Transnet - S&P Global Ratings National Scale Rating Update
Transnet SOC Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1990/000900/30)
Issuer Bond Code: BITRA
(“Transnet”, “the Company” or the “Issuer”)
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S&P GLOBAL RATINGS NATIONAL SCALE RATING UPDATE
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Noteholders are informed that S&P Global Ratings (S&P) has, on 05 July 2023, revised
Transnet’s long-term national scale rating (NSR) by one notch to zaAA- from zaAA and
affirmed the short-term NSR at zaA-1+.
The rating actions emanate from S&P’s revised criteria for determining, mapping, and
assigning national credit ratings from global to national scale. Noteholders should note
that the rating actions on the national scale ratings do not reflect changes to the
fundamental credit quality of the Issuer. Accordingly, Transnet’s global scale ratings of
BB-, negative outlook, were not affected by the rating actions above.
For a detailed analysis of the rating, please refer to the following link:
https://www.transnet.net/InvestorRelations/Pages/SENS-Announcements.aspx
Johannesburg
06 July 2023
JSE Debt Sponsor
Absa Corporate and Investment Bank (a division of Absa Bank Limited)
Date: 06-07-2023 04:56:00
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