GRINDROD BANK LIMITED - Rating action: GCR upgrades Grindrod Bank Limiteds National Scale Rating to A- (ZA), outlook stable

Rating action: GCR upgrades Grindrod Bank Limited’s National Scale Rating to A- (ZA), outlook stable

GRINDROD BANK LIMITED
(Registration no 1994/007994/06)
Incorporated in the Republic of South Africa
JSE alpha code: GNDI

RATING ACTION: GCR UPGRADES GRINDROD BANK LIMITED’S NATIONAL SCALE RATING TO A-
(ZA), OUTLOOK STABLE

Bondholders are advised that GCR Ratings (“GCR”) has on 9 October 2019 upgraded the national
scale long term issuer rating assigned to Grindrod Bank Limited to A-(ZA) from BBB+(ZA), affirmed
the national scale short term issuer rating at A2(ZA), and affirmed the international scale long term
issuer rating at B+, with outlooks accorded as Stable.

For further information please refer to: https://gcrratings.com/announcements/gcr-upgrades-
grindrod-bank-limiteds-national-scale-rating-to-a-za-outlook-stable/

10 October 2019
Debt Sponsor: Nedbank Corporate and Investment Banking

Date: 10/10/2019 03:45:00
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