In accordance with paragraph 4.26 of the JSE Debt Listings Requirements, noteholders are hereby advised of the amendment to Telkom’s credit rating effective on 12 June 2017.
Moody’s Investors Service (“Moody’s” or “the agency”) has affirmed Telkom’s rating of Baa3 with a negative outlook.
This rating action follows the weakening of the South African government’s credit profile, as captured by Moody’s lowering of the South African sovereign ratings on 9 June 2017.
For commentary on detailed ratings taken on Telkom please refer to the Mood’s press release on their website: https://www.moodys.com/research/Moodys-downgrades-South-Africas-rating-to-Baa3-and-assigns-negative--PR_367769
14 June 2017
Debt Sponsor: The Standard Bank of South Africa Limited