DEVELOPMENT BANK OF SOUTHERN AFRICA - Credit rating announcement DIDBS

Credit rating announcement DIDBS

Development Bank of Southern Africa Limited
Registration number: 1600157FN
JSE alpha code: DIDBS
(“DBSA”)

CREDIT RATING ANNOUNCEMENT

Noteholders are advised that Fitch Ratings (“Fitch”) has affirmed DBSA’s National Long-Term Rating
at 'AA+(zaf)' and National Short-Term Rating at 'F1+(zaf)'. Fitch has also affirmed DBSA's Support
Rating at '3'.

The stable outlook on DBSA's National Long-Term Rating reflects Fitch’s expectation that DBSA's
creditworthiness relative to others issuers in the country will be stable in the near term, even if the
sovereign rating changes.

As Fitch has withdrawn its rating for commercial reasons, going forward DBSA will only be rated by
Moody’s and Standard & Poor.

The full rating announcement will be made available upon request.

4 December 2018

Debt Sponsor
Nedbank Corporate and Investment Banking

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