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Appointment Of New Credit Rating Agency And Rating Report - LGL02 - LGL05
LIBERTY GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1968/002095/06)
Instrument Code: LGL02 ISIN: ZAG000097932
Instrument Code: LGL03 ISIN: ZAG000100249
Instrument Code: LGL04 ISIN: ZAG000105784
Instrument Code: LGL05 ISIN: ZAG000122250
(“Liberty”) or (“the Company”)
APPOINTMENT OF NEW CREDIT RATING AGENCY AND NOTICE OF RATING
Liberty advised note-holders on 14 January 2016 of the extended
validity period to 4 March 2016 relating to the ratings assigned
to Liberty by Fitch Ratings. Liberty would like to advise that
they have appointed Standard & Poor’s (S&P) as their new credit
rating agency.
S&P has today published the full rating report on Liberty which
is available online at:
www.standardandpoors.com or
http://www.libertyholdings.co.za/investor/Pages/debt-centre.aspx
As per the S&P report, S&P assesses Liberty’s competitive
position as strong and its capital and earnings as moderately
strong, although the latter reflects its reliance on soft forms
of capital. Partly offsetting these strengths is S&P’s
assessment of the moderate industry and country risk in the
South African life insurance market.
S&P has therefore assigned Liberty a 'zaAAA' South Africa
national scale issuer credit rating, and 'zaAA+' South Africa
national scale issue rating to its subordinated notes.
Johannesburg
18 February 2016
Debt Sponsor
The Standard Bank of South Africa Limited
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