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TRUSTCO GROUP HOLDINGS LIMITED - Update on the Global Credit Rating of the Company

Release Date: 28/12/2018 16:20
Code(s): TTO     PDF:  
Wrap Text
Update on the Global Credit Rating of the Company

TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
Registered as an external company in South Africa
(External registration number 2009/002634/10)
NSX share code: TUC
JSE share code: TTO
ISIN Number: NA000A0RF067
(“Trustco” or “the Company”)


Update on the Global Credit Rating of the Company


Trustco Shareholders (“Shareholders”) are referred to the SENS announcement dated 31 August 2018
in terms where of the Company published its credit rating for the period 1 September 2018 to 31
August 2019 by the Global Credit Ratings Company (“GCR”).


GCR previously published Trustco’s national scale long term rating of BBB+(NA) and its short term rating
of A2(NA) to LD (NA). The Company is pleased to announce that after signature of the formal Standstill
Agreement signed with the international debt Lenders Group the GCR consequently upgraded the
Company’s long term credit rating to CCC(NA) and its short term rating to C(NA) with the outlook as
evolving.


The Standstill Agreement is effective until 15 June 2019. Restructuring of debt packages will be
negotiated with the Lenders Group during the effective period of the Standstill Agreement. GCR will
raise the rating post the successful restructuring of the debt.


The rating is valid until August 2019 and the announcement is available on Trustco’s website at
http://www.tgh.na/investors/global-credit-rating/




   28 December 2018
Amanda Bruyns
Company Secretary: Trustco Group Holdings Limited




JSE Equity Sponsor
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NSX Sponsor
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Date: 28/12/2018 04:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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