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TRUSTCO GROUP HOLDINGS LIMITED - Global Credit Rating upgrades Trustcos credit rating

Release Date: 28/07/2016 12:07
Code(s): TTO     PDF:  
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Global Credit Rating upgrades Trustco’s credit 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")

Global Credit Rating upgrades Trustco’s credit rating

Global Credit Rating Company (“GCR”) has upgraded Trustco’s national scale long term
rating to BBB+(NA) and affirmed its short term rating of A2(NA); with the outlook accorded as
stable.

The GCR announcement notes that the ratings of Trustco reflect an entrenched financial
services position (in education finance and mass-market insurance), and value-adding
property investments in Namibia. Improved capital and leverage metrics relative to the
Group’s evolving risk profile/business mix also support the ratings.

Constructive Namibian macroeconomic trends, structural support for property prices and a
strategy which is geared towards enhancing the sustainability and diversification of earnings,
while prioritising stakeholder needs, support the Group’s prospects.

The full report is available at http://globalratings.net.



A Bruyns
Company Secretary
28 July 2016

JSE Sponsor
Sasfin Capital
a division of Sasfin Bank Limited

NSX Sponsor
IJG (Pty) Limited

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