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PREMIUM PROPERTIES LIMITED - Rating Upgrade to Octodec Investments Limited

Release Date: 04/12/2015 10:05
Code(s): PMM17 PMM22 PMM19 PMM20 PMM21     PDF:  
Wrap Text
Rating Upgrade to Octodec Investments Limited

Octodec Investments Limited
Registration number (1956/002868/06)
Incorporated in the Republic of South Africa

Rating Upgrade to Octodec Investments Limited

Octodec Investments Limited (Octodec)has received upgraded
national scale ratings of A(ZA) long term and A1(ZA) short
term respectively, from Global Credit Rating (GCR). The
outlook is accorded as stable.
The previous rating done in October 2014 was A-(ZA) long term
and A1-(ZA) short term respectively.

Registration of the DMTN programme remains in the name of
Premium Properties Limited (Premium), a wholly owned
subsidiary of Octodec. The bond issuances are now irrevocably
and unconditionally guaranteed by Octodec. As such, GCR has
withdrawn the ratings accorded to Premium and will only accord
ratings to Octodec going forward.


Date: 4 December 2015
Debt Sponsor: Nedbank CIB

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