THE THEKWINI FUND 15 (RF) LIMITED - TF15-Moody's Rating Action

TF15-Moody's Rating Action

The Thekwini Fund 15 (RF) Limited
(incorporated with limited liability in the Republic of South
Africa)
(Registration number: 2017/052656/06)
ISSUER CODE: THTI


The Thekwini Fund 15 (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 15 (RF) Limited programme:

Class of    Rating Type       Prior Rating   Current
Notes                                        Rating
Class A1    Global Scale      A3 (sf)        A3 (sf)
            Rating
            National Scale    Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A2    Global Scale      A3 (sf)        A3 (sf)
            Rating
            National Scale    Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A3    Global Scale      A3 (sf)        A3 (sf)
            Rating
            National Scale    Aaa.za (sf)    Aaa.za (sf)
            Rating
Class B1    Global Scale      Baa3 (sf)      Ba1 (sf)
            Rating
            National Scale    Aaa.za (sf)    Aaa.za (sf)
            Rating
Class C1    Global Scale      Ba3 (sf)       B1 (sf)
            Rating
            National Scale    A2.za (sf)     Baa1.za (sf)
            Rating
Class A4    Global Scale      A3 (sf)        A3 (sf)
            Rating
            National Scale    Aaa.za (sf)    Aaa.za (sf)
            Rating
Class A5    Global Scale      A3 (sf)        A3 (sf)
            Rating
            National Scale    Aaa.za (sf)    Aaa.za (sf)
            Rating
Class B2    Global Scale      Baa3 (sf)      Ba1 (sf)
            Rating
            National Scale    Aaa.za (sf)    Aaa.za (sf)
            Rating
Class C2       Global Scale     Ba3 (sf)       B1 (sf)
               Rating
               National Scale   A2.za (sf)     Baa1.za (sf)
               Rating
Class A7       Global Scale     A3 (sf)        A3 (sf)
               Rating
               National Scale   Aaa.za (sf)    Aaa.za (sf)
               Rating
Class A8       Global Scale     A3 (sf)        A3 (sf)
               Rating
               National Scale   Aaa.za (sf)    Aaa.za (sf)
               Rating
Class B3       Global Scale     Baa3 (sf)      Ba1 (sf)
               Rating
               National Scale   Aaa.za (sf)    Aaa.za (sf)
               Rating
Class C3       Global Scale     Ba3 (sf)       B1 (sf)
               Rating
               National Scale   A2.za (sf)     Baa1.za (sf)
               Rating
Class OM4      Global Scale     P-2 (sf)       P-2 (sf)
               Rating
               National Scale   P-1.za (sf)    P-1.za (sf)
               Rating


For more detail the Moody’s press release can be found through
the following link:
https://www.moodys.com/research/Moodys-downgrades-9-Notes-and-
affirms-14-Notes-in-3--PR_428386

For any further queries kindly contact:
Nicholas Gunning
Arranger: Debt Capital Markets SA
Phone: +27 (0)82 786 9267
Email: nicholas.gunning@standardbank.co.za

17 July 2020

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 17-07-2020 11:40:00
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