CURRO HOLDINGS LIMITED - Curro Credit Rating Affirmed Outlook Positive

Release Date: 04/06/2018 16:07
Code(s): COH
 
Wrap Text
Curro Credit Rating Affirmed – Outlook Positive

CURRO HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/025801/06)
Share code: COH
ISIN: ZAE000156253
(“Curro” or “the Company”)

CURRO CREDIT RATING AFFIRMED – OUTLOOK POSITIVE

Shareholders are advised that the rating agency Global Credit Rating Company (“GCR”) has
affirmed the national scale issuer long term rating assigned to Curro of BBB(ZA) but changed
the outlook from stable to positive. GCR also upgraded the short term rating to A2(ZA), with a
positive outlook.

The above is the result of favourable enrolment trends being supportive of a rapid increase in
revenues and earnings margins over the review period, as well as additional factors
considered by GCR. In addition, Curro’s liquidity position has strengthened, supported by the
robust upward progression in cash flows over the review period and strong banking
relationships, whilst there are no near-term refinancing requirements.

Durbanville
4 June 2018

Sponsor
PSG Capital

Date: 04/06/2018 04:07:00 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.

Email this JSE Sens Item to a Friend.

Share This Story