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BNP PARIBAS PERSONAL FINANCE SOUTH AFRICA LTD - S&P rating announcement

Release Date: 06/04/2017 16:32
Code(s): RCSB05 RCG01B RCG01C RCSB07 BPPF01 BPPF02     PDF:  
Wrap Text
S&P rating announcement

BNP Paribas Personal Finance South Africa Limited
(Previously RCS Investment Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration No. 2000/017884/06)
Company code: RCSI
(“BNP Paribas PF South Africa”)

S&P rating announcement

On April 03, 2017 Standard & Poor’s Global Ratings (“S&P”) lowered its foreign currency ratings on South
Africa to 'BB+/B' from 'BBB-/A-3' with a negative outlook. S&P do not rate financial institutions in South
Africa above the foreign currency sovereign ratings, due to the direct and indirect impact that a sovereign
distress would have on operations.

As a result of the above, please note:
    1. There has been no change to the ‘zaAAA/zaA-1’ S&P rating assigned to the BNP Paribas PF South
        Africa ZAR10,000,000,000 Domestic Medium Term Note Programme, which is guaranteed by BNP
        Paribas Societe Anonyme (France), dated September 05, 2016; and
    2. On April 05, 2017, S&P lowered the long-term South African national scale rating on BNP Paribas PF
        South Africa to ‘zaA’ from ‘zaAA-‘, and affirmed the short-term national scale rating of ‘zaA-1’.

06 April 2017

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)



BNP Paribas (www.bnpparibas.com) is a leading bank in Europe with an international reach. It has a presence in
75 countries, with more than 189,000 employees, including more than 146,000 in Europe.
The BNP Paribas group, through its wholly owned subsidiary BNP Paribas Personal Finance, acquired 100% of
RCS in August 2014.
RCS is a consumer finance business predominantly based in South Africa, with over 16 years in the industry.

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