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Global Credit Rating Upgrade: Sappi Southern Africa Linites
SAPPI SOUTHERN AFRICA LIMITED
Sappi Southern Africa Limited (Registration number 1951/003180/06)
incorporated in the Republic of South Africa.
Global Credit Ratings upgrades Sappi Southern Africa Limited’s rating of A+(ZA); Outlook stable.
STOCK CODE : SSA05
ISIN: ZAG000104464
STOCK CODE : SSA06
ISIN: ZAG000104472
As of 13 June 2017 Global Credit Ratings has upgraded the national scale Issuer ratings
assigned to Sappi Southern Africa Limited to A+(ZA) and A1+(ZA) in the long and short term
respectively and with the outlook accorded as stable.
Commenting on this development, Sappi Chief Executive Officer Steve Binnie said: “This
ratings upgrade for Sappi Southern Africa is further confirmation of Sappi’s success in
implementing its business strategy. We have now achieved our debt reduction and leverage
targets and our finance costs have materially reduced. Our efforts to reposition the Sappi
group are progressing well, with our dissolving wood pulp business continuing to deliver
excellent results and our speciality and packaging papers segment growing ahead of
forecasts.”
NATIONAL SCALE RATINGS HISTORY
Initial (November 2015)
Long term: A(ZA); Short term: A1(ZA)
Outlook: Stable
Last rating (August 2016)
Long term: A(ZA); Short term: A1(ZA)
Outlook: Stable
Date 13 June 2017
Debt Sponsor: Nedbank CIB
Date: 13/06/2017 09:21:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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