WOOLWORTHS HOLDINGS LIMITED - Notification of a change to the credit rating of WHL

Notification of a change to the credit rating of WHL

Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1929/001986/06)
Bond Company code: WHLI
(“WHL”)


NOTIFICATION OF A CHANGE TO THE CREDIT RATING OF WHL

Senior Unsecured Floating Rate Noteholders are advised that Standard & Poor’s Global
Ratings (‘S&P’) downgraded the credit rating of WHL with effect from 21 September 2018. In
the context of challenging macroeconomic and trading conditions in South Africa and
structural changes in Australia, the credit rating has been revised from ‘zaAA’ to ‘zaA+’ on a
long term national scale basis.


25 September 2018

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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