UMGENI WATER - Credit rating announcement - UG21/UG26

Credit rating announcement - UG21/UG26

UMGENI WATER
Company code : BIUMWA
Stock Codes:
UG21: ZAG000075698
UG26: ZAG000133760
(the “Company”)

CREDIT RATING ANNOUNCEMENT

Noteholders are advised that Fitch Ratings (“Fitch”) has affirmed Umgeni Water's National Long-Term
Rating and senior unsecured rating at 'AA+(zaf)', and the National Short-Term Rating at 'F1+(zaf)'. The
Outlook on the Long-Term Rating is stable.

The affirmation reflects the continued strong links between the Company and the state as well as
stability in Umgeni Water's standalone profile.

The full rating announcement will be made available upon request.

27 September 2018

Debt Sponsor
Nedbank Corporate and Investment Banking

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