THE THEKWINI FUND 16 (RF) LIMITED - T16-Credit Rating Action

T16-Credit Rating Action

The Thekwini Fund 16 (RF) Limited
(incorporated with limited liability in the Republic of South
Africa)
(Registration number: 2018/418593/06)
ISSUER CODE: TKWI16


The Thekwini Fund 16 (RF) Limited: Moodys ratings action

Moody’s Investor Services announced the following rating
actions in relation to the Notes outstanding under The
Thekwini Fund 16 (RF) Limited programme:

 Class of            Rating Type          Prior Rating        Current
 Notes                                                        Rating
 Class OM1           Global Scale         P-2 (sf)            P-2 (sf)
                     Rating
                     National             P-1.za (sf)         P-1.za (sf)
                     Scale Rating
 Class A1            Global Scale         A2 (sf)             A3 (sf)
                     Rating
                     National             Aaa.za (sf)         Aaa.za (sf)
                     Scale Rating
 Class A2            National             Aaa.za (sf)         Aaa.za (sf)
                     Scale Rating
                     Global Scale         A2 (sf)             A3 (sf)
                     Rating
 Class A3            Global Scale         A2 (sf)             A3 (sf)
                     Rating
                     National             Aaa.za (sf)         Aaa.za (sf)
                     Scale Rating
 Class B1            Global Scale         Baa3 (sf)           Baa3 (sf)
                     Rating
                     National             Aaa.za (sf)         Aaa.za (sf)
                     Scale Rating
 Class C1            Global Scale         Ba3 (sf)            Ba3 (sf)
                     Rating
                     National             A3.za (sf)          A3.za (sf)
                     Scale 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 05:16:00
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