TELKOM SA SOC LIMITED - Credit Ratings Update

Credit Ratings Update

Telkom SA SOC Limited
Registration number 1991/005476/30)
JSE Bond code: BITEL
ISIN: ZAG000044897
("Telkom" or "the Company")

Update to Telkom SA SOC Limited’s Credit Ratings Following Year
End Results

In accordance with paragraph 4.26 of the JSE Debt Listings
Requirements, noteholders are hereby advised of the update to
Telkom’s credit analysis following the year end results.

Moody’s Investors Service (“Moody’s” or “the agency”) has
affirmed Telkom’s rating of Baa3 with a negative outlook. This
rating action is in line with the government of South Africa’s
bond rating.


For commentary on detailed ratings taken on Telkom please refer
to the Mood’s press release on their website:


https://www.moodys.com/credit-ratings/Telkom-SA-SOC-Limited-
credit-rating-600008994



Johannesburg
23 October 2017

Debt Sponsor: The Standard Bank of South Africa Limited

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