THE THEKWINI FUND 16 (RF) LIMITED - Rating Announcement on Notes Issued by Thekwini 16

Rating Announcement on Notes Issued by Thekwini 16

The Thekwini Fund 16 (RF) Limited
(“Thekwini 16”)
Rating Announcement on Notes Issued by Thekwini 16

Dated: 23 August 2019
Stock Codes: T16OM1, TH16A1, TH16A2, TH16A3, TH16B1, TH16C1, TH16D1
ISIN Codes: ZAG000161720, ZAG000161662, ZAG000161670, ZAG000161688,
ZAG000161696, ZAG000161704, ZAG000161712

Thekwini 16 would like to draw the market’s attention to the recent
publications by Moody’s in relation to the notes issued on 21 August.

On 29 July 2019 Moody’s issued a press release notifying the market
that Moody’s had assigned provisional ratings to the notes to be
issued by Thekwini 16. This press release can be found through the
following link:
https://www.moodys.com/research/Moodys-assigns-provisional-
ratings-to-new-Notes-to-be-issued--PR_405052

On 21 August 2019 Moody’s issued a further press release stating
that the provisional ratings for the class B and C notes yet to be
issued had been downgraded due to “the correction of an error in
Moody's prior analysis”. This press release can be found through
the following link:
https://www.moodys.com/research/Moodys-downgrades-provisional-
ratings-of-Class-B-and-C-Notes--PR_407854

On 22 August 2019 Moody’s published their definitive ratings for
the notes issued by Thekwini 16. This press release can be found
through the following link:
https://www.moodys.com/research/Moodys-assigns-definitive-ratings-
to-new-Notes-issued-by-The--PR_407476

The revised applicable pricing supplement pertaining to the TH16C1
note can be found through the following link:
https://www.sahomeloans.com/about/business-
partners/investors?d=L1RyYW5zYWN0aW9uIGRvY3VtZW50cy9UaGVrd2luaS
AxNi9BcHBsaWNhYmxlIFByaWNpbmcgU3VwcGxlbWVudHM%3D&m1dll_index_ge
t=0


Please direct queries in relation to the above matters to either
Abdul Ismail (Abduli@sahomeloans.com, 031 571 3002) or Nicholas
Gunning (nicholas.gunning@standardbank.co.za, 011 721 7112).

Sponsor: The Standard Bank of South Africa Limited

Marc Hearn Standard Bank (Sponsor) (011) 721 7876
Email: mar.hearn@standardbank.co.za

Date: 23/08/2019 04:23:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.