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

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 November 24, 2017 Standard & Poor’s Global Ratings (“S&P”) lowered its foreign currency ratings on
South Africa to 'BB' from 'BB+'. 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. S&P has affirmed the ‘zaAAA’ 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 November 29, 2017, S&P lowered the long-term South African national scale rating on BNP
       Paribas PF South Africa to ‘zaAA-’ from ‘zaAA’, and affirmed the short-term national scale rating of
       ‘zaA-1+’.

30 November 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
74 countries, with more than 192,000 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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