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PEPKOR HOLDINGS LIMITED - Pepkor - Moodys Credit Rating Action

Release Date: 27/11/2020 08:00
Code(s): PPH PEP02 PEP01     PDF:  
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Pepkor - Moody’s Credit Rating Action

Pepkor Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: PPH
Debt Code: PPHI
ISIN: ZAE000259479
(“Pepkor” or the “group”)


Shareholders and noteholders are advised that the rating agency Moody's Investors Service
(“Moody's”) has affirmed Pepkor’s Ba3 Global Scale Long Term Rating and repositioned the
National Scale Long Term Rating (“NSLTR”) assigned to Pepkor to from This reflects
an improved (NSLTR) credit rating.

Moody's states, "[the rating action] reflects the [group’s] strong liquidity position with no debt
maturities in the next 18 months."

As communicated during the group’s FY20 results published on 23 November 2020, the
efficiency and flexibility of the group’s balance sheet was enhanced substantially with a
R6.9 billion reduction in net debt to R7.1 billion at 30 September 2020 (from total operations,
excluding the adoption of IFRS 16).

27 November 2020

Equity Sponsor
PSG Capital

Debt Sponsor
Rand Merchant Bank (A division of Firstrand Bank Limited)

Date: 27-11-2020 08:00:00
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