DEVELOPMENT BANK OF SOUTHERN AFRICA - CONFIRMATION OF RATING BY MOODY'S INVESTOR SERVICES

CONFIRMATION OF RATING BY MOODY'S INVESTOR SERVICES

THE DEVELOPMENT BANK OF SOUTHERN AFRICA
(Incorporated in the Republic of South Africa)
(“DBSA”) or (“the Issuer”)


Registration number: 1600157FN
JSE Company Code: BIDBS


Rating confirmation for the Development Bank of Southern Africa
(“DBSA” or “the Company”)

In accordance with paragraph 4.26 of the JSE Debt Listings
Requirements, noteholders are hereby advised of the confirmation
of the DBSA’s credit rating effective on 28 March 2018.

Moody’s Investor Services (“Moody’s” or “the agency”) has
confirmed DBSA’s long-term foreign-currency issuer credit rating
at Baa3. The outlook has changed from negative to stable.


For commentary on detailed ratings actions taken on DBSA please refer to
the following links:
www.moodys.com
www.dbsa.org

Johannesburg
29 March 2018


Debt Sponsor: Nedbank Corporate and Investment Bank, a division
of Nedbank Limited

Date: 29/03/2018 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.