TRANSNET SOC LIMITED - Credit Rating Announcement - BITRA

Credit Rating Announcement - BITRA

Transnet SOC Limit(Incorporated in the Republic of South Africa)
(Registration Number: 1990/000900/30)
Issuer Bond Code: BITRA
("Transnet", "the Company" or the "Issuer")


MOODY'S RATINGS (MOODY'S) AFFIRMS TRANSNET'S RATINGS
_______________________________________________________________________________

The Noteholders are informed that today, 19 June 2025, Moody's announced its decision to affirm
Transnet's ratings while maintaining all the ratings under review for downgrade.

The ratings were affirmed as follows:

   •   Long term corporate family rating (CFR) Ba3;
   •   Baseline Credit Assessment (BCA) b3;
   •   Probability of default rating (PDR)Ba3-PD;
   •   Global and national scale senior unsecured MTN programme (Medium-Term Note) ratings
       (P)Ba3/A2.za;
   •   Global and national scale subordinated MTN programme ratings (P)B1/Baa2.za;
   •   Senior unsecured and backed senior unsecured ratings Ba3;
   •   National scale other short-term rating P-1.za.

The ratings decision follows the announcement by the Government on 12 June 2025 confirming
that the Government will initiate a process to allocate additional guarantees to Transnet.

For a detailed analysis of the rating, please refer to the following link:

https://www.transnet.net/RenderPage.aspx?id=2861673


Johannesburg
19 June 2025

JSE Debt Sponsor
Absa Corporate and Investment Bank (a division of Absa Bank Limited)

Date: 19-06-2025 11:30:00
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