CURRO HOLDINGS LIMITED - Curro Credit Rating Affirmed Outlook Positive

Release Date: 04/06/2018 16:07
Code(s): COH
Wrap Text
Curro Credit Rating Affirmed – Outlook Positive

(Incorporated in the Republic of South Africa)
(Registration number: 1998/025801/06)
Share code: COH
ISIN: ZAE000156253
(“Curro” or “the Company”)


Shareholders are advised that the rating agency Global Credit Rating Company (“GCR”) has
affirmed the national scale issuer long term rating assigned to Curro of BBB(ZA) but changed
the outlook from stable to positive. GCR also upgraded the short term rating to A2(ZA), with a
positive outlook.

The above is the result of favourable enrolment trends being supportive of a rapid increase in
revenues and earnings margins over the review period, as well as additional factors
considered by GCR. In addition, Curro’s liquidity position has strengthened, supported by the
robust upward progression in cash flows over the review period and strong banking
relationships, whilst there are no near-term refinancing requirements.

4 June 2018

PSG Capital

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