UMGENI WATER - Credit rating announcement

Credit rating announcement

UMGENI WATER
Company code : BIUMWA
Stock Codes:
UG21: ZAG000075698
UG26: ZAG000133760

CREDIT RATING ANNOUNCEMENT

Noteholders are advised that S&P Ratings (“S&P” or the “rating agency”) has revised Umgeni Water’s
rating from ‘zaAA+’ to zaAAA due to a change in the rating scales of S&P and not due to a reassessment
of Umgeni Water’s credit quality. The rating agency affirmed its short term rating at ‘zaA-1’. The full
rating announcement will be made available upon request.

Johannesburg
03 July 2018

Debt Sponsor
Nedbank CIB

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