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THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - BILB: Moody's Ratings review

Release Date: 12/09/2019 09:25
 
Wrap Text
BILB: Moody's Ratings review

The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“the Land Bank”)


Land and Agricultural Development Bank of South Africa: Moody’s announces completion of a
periodic review of ratings


On 10 September, Moody's Investors Service, ("Moody's") announced the completion of a periodic
review of the Land and Agricultural Development Bank of South Africa’s ("Land Bank") ratings.
Moody’s conducted a portfolio review and reassessed the appropriateness of the ratings in the context
of the relevant principle methodologies, recent developments and comparison of the financial and
operating profile to similar rated peers. The review did not include a rating committee or credit rating
announcement.
As per the SENS announcement of 25 July 2019, Moody's Investors Service, ("Moody's") affirmed the
Land and Agricultural Development Bank of South Africa’s ("Land Bank") issuer ratings at Baa3/Prime-
3 and its national-scale issuer ratings (NSR) at Aa1.za/P-1.za. The issuer outlook is negative.

The Periodic Review Announcement is available on its website, www.moodys.com.


12 September 2019

Enquiries
Land and Agricultural Development Bank of South Africa
Konehali Gugushe, Acting Chief Executive Officer
Yatheen Ramrup, Acting Chief Financial Officer
Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 012 686 0921

Date: 12/09/2019 09:25:00
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