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RCSI - Notification of a Change to the Credit Rating of the Issuer
BNP Paribas Personal Finance South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2000/017884/06)
Company code: RCSI
LEI: 213800Z5MFEBP2RX8L32
(“BNPP PF South Africa” or “the Issuer”)
NOTIFICATION OF A CHANGE TO THE CREDIT RATING OF THE ISSUER
Noteholders are advised that the Issuer’s long term national scale credit rating assigned by S&P Global
Ratings (“S&P”) has been downgraded from zaAA+ to zaAA on 26 November 2019.
The rationale for the rating downgrade is as a result of the outlook revision on the foreign currency
rating of South Africa on 22 November 2019.
The full report of the rating assigned by S&P has been made available at the below link
https://rcs.co.za/about-rcs/investor-relations
27 November 2019
Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa
BNP Paribas (www.bnpparibas.com) is a leading bank in Europe with an international reach. It has a
presence in 72 countries, with more than 202,624 employees.
The BNP Paribas group, through its wholly owned subsidiary BNP Paribas Personal Finance, acquired
100% of BNP Paribas Personal Finance South Africa Limited (formerly, RCS Investment Holdings
Limited) in August 2014.
BNP Paribas PF South Africa is a consumer finance business predominantly based in South Africa, with
over 20 years in the industry.
Date: 27-11-2019 05:10:00
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