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TRUSTCO GROUP HOLDINGS LIMITED - GCR upgrades Trustco Group rating

Release Date: 27/07/2015 14:20
Code(s): TTO     PDF:  
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GCR upgrades Trustco Group rating

TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
NSX share code: TUC
JSE share code: TTO
ISIN Number: NA000A0RF067
(“Trustco” or "the Group")

GCR upgrades Trustco Group rating to (“BBB”) with Outlook Positive


Trustco is pleased to announce that Global Credit Ratings (“GCR”)
(http://globalratings.net) has upgraded the long term national scale
issuer rating and the short term national scale issuer rating
assigned to Trustco to BBB (NA) and A2 (NA) respectively; with the
outlook for the group now being accorded as Positive.

According to the full report published by GCR, the ratings reflect
Trustco’s entrenched financial services position and value-adding
property investments. Sound capital and leverage metrics relative to
Trustco’s evolving risk profile and business mix have supported the
ratings upgrade. The rating outlook considers Trustco’s increasing
operational scale, improved organisational efficiency, and long-term
earnings    diversification   plans,    coupled    with   supportive
macroeconomic and property price trajectories in Namibia.

Trustco is pleased to release this report to shareholders as it
continues to demonstrate the group’s resolve to achieve only the
highest levels of success whilst maintaining a solid governance and
risk framework.

In light of the increasing trend of recent downgrades to both local
and international corporates and certain sovereigns, the fact that
Trustco has managed to improve its overall rating is a very positive
message to stakeholders.


The full report is available on the Trustco website: www.tgh.na




S Miller
Company Secretary
27 July 2015

JSE Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)

NSX Sponsor
IJG (Pty) Limited

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