TELKOM SA SOC LIMITED - Amendment to Telkom SA SOC Limiteds credit ratings

Amendment to Telkom SA SOC Limited’s  credit ratings

Telkom SA SOC Limited
Registration number 1991/005476/30)
JSE Bond code: TL20
ISIN: ZAG000021528
("Telkom" or "the Company")

Amendment to Telkom SA SOC Limited’s (“Telkom” or “the Company”)
credit ratings

In accordance with paragraph 4.26 of the JSE Debt Listings
Requirements, noteholders are hereby advised of the amendment to
Telkom’s credit rating effective on 12 June 2017.

Moody’s Investors Service (“Moody’s” or “the agency”)        has
affirmed Telkom’s rating of Baa3 with a negative outlook.


This rating action follows the weakening of the South African
government’s credit profile, as captured by Moody’s lowering of
the South African sovereign ratings on 9 June 2017.


For commentary on detailed ratings taken on Telkom please refer
to the Moody’s press release on their website:
https://www.moodys.com/research/Moodys-downgrades-South-Africas-
rating-to-Baa3-and-assigns-negative--PR_367769


Johannesburg
14 June 2017

Debt Sponsor: The Standard Bank of South Africa Limited

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