RCS INVESTMENT HOLDINGS LTD - Replacement of credit rating on current notes in issue

Replacement of  credit rating on current notes in issue

RCS INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 2000/17884/06)
Bond issuer code: BIRCS
(“RCS”)



REPLACEMENT OF CREDIT RATING ON CURRENT NOTES IN ISSUE


RCS wishes to notify noteholders that, with effect from 20 February
2015, it has replaced the Baa1.za national scale Issuer credit rating
contained in the Applicable Pricing Supplement in respect of its
current notes that it has issue (being RCSB03, RCSB04, RCSB05,
RCSB06, and RCSB07) as accorded by Moody’s Investor Services, with a
AA-(zaf) national scale Issuer credit rating accorded by Fitch Rating
Limited.

24 February 2015

Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 24/02/2015 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.