WHLI - Notification of a Change to the Company's Credit Rating: Event - Driven Rating Action
Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
Share code: WHL
Share ISIN: ZAE000063863
Bond code: WHLI
("WHL" or "Company")
NOTIFICATION OF A CHANGE TO THE COMPANY'S CREDIT RATING: EVENT - DRIVEN
Senior Unsecured Floating Rate Noteholders are advised that Standard & Poor's Global
Ratings ("S&P") downgraded the credit rating of WHL with effect from 15 April 2020. The
event-driven rating action, prompted by the effects of COVID-19 and the South African
Sovereign ratings downgrade, has resulted in the credit rating being revised from ‘zaA+' to
‘zaA- (Credit Watch Negative)' on a long term national scale basis.
16 April 2020
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 16-04-2020 07:10:00
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