THE THEKWINI WAREHOUSING CONDUIT (RF) LIMITED - The Thekwini Warehousing Conduit (RF) Limited - New Credit Rating Agency

The Thekwini Warehousing Conduit (RF) Limited - New Credit Rating Agency

The Thekwini Warehousing Conduit (RF) Ltd

(Incorporated with limited liability in the Republic of South Africa)

Registration number 2005/007604/06)

(“TWC”) or (“the Company”)

NEW CREDIT RATING AGENCY

On 1 February 2013, TWC registered a Programme Memorandum (the “Programme
Memorandum”) in respect of its ZAR 6,000,000,000 Residential Mortgage
Warehousing Programme (“the Programme”).

Noteholders are advised that TWC has appointed Moody’s Investors Service
(“Moodys”) as a new credit rating agency under the Programme.

On 13 June 2016, Moodys has accorded a short term credit rating of ‘P-1.za
(sf)’ to the Senior Notes issued and to be issued under the Programme.

Moodys has published the full rating report on TWC which is available online
at:
https://www.moodys.com/research/Moodys-Rates-Notes-Issued-by-The-Thekwini-
Warehousing-Conduit-RF--PR_350367

Johannesburg
15 June 2016

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 15/06/2016 10:30:00 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.