THE THEKWINI FUND 14 (RF) LIMITED - TKWI14-Credit Rating Action

TKWI14-Credit Rating Action

The Thekwini Fund 14 (RF) Limited
(incorporated with limited liability in the Republic of South
Africa)
(Registration number: 2015/327767/07)
ISSUER CODE: TKWI14


The Thekwini Fund 14 (RF) Limited: Moodys ratings action

Moody’s Investor Services announced the following rating
actions in relation to the Notes outstanding under the The
Thekwini Fund 14 (RF) Limited programme:

Tranche     Rating Type          Prior Rating   Current
Name                                            Rating
Class A3    Global Scale         A2 (sf)        A3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A4    Global Scale         A2 (sf)        A3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A7    Global Scale         A2 (sf)        A3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A8    Global Scale         A2 (sf)        A3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A11   Global Scale         A2 (sf)        A3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A12   Global Scale         A2 (sf)        A3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A13   Global Scale         A2 (sf)        A3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class B1    Global Scale         Baa3 (sf)      Baa3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
            Rating
Class B2    Global Scale         Baa3 (sf)      Baa3 (sf)
            Rating
            National Scale       Aaa.za (sf)    Aaa.za (sf)
                  Rating
Class B3          Global Scale                  Baa3 (sf)           Baa3 (sf)
                  Rating
                  National Scale                Aaa.za (sf)         Aaa.za (sf)
                  Rating
Class C1          Global Scale                  Ba2 (sf)            Ba2 (sf)
                  Rating
                  National Scale                A1.za (sf)          A1.za (sf)
                  Rating
Class C2          Global Scale                  Ba2 (sf)            Ba2 (sf)
                  Rating
                  National Scale                A1.za (sf)          A1.za (sf)
                  Rating
Class C3          Global Scale                  Ba2 (sf)            Ba2 (sf)
                  Rating
                  National Scale                A1.za (sf)          A1.za (sf)
                  Rating




For more detail the Moody’s press release can be found through
the following link:
https://www.moodys.com/research/Moodys-takes-rating-actions-on-South-African-RMBS-and-ABS--
PR_421849


8 April 2020

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 08-04-2020 04:22:00
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