TOYOTA FIN SERVICES (SA) LIMITED - BITOY - Notification of a change to the credit rating of the Programme

BITOY - Notification of a change to the credit rating of  the Programme

Toyota Financial Services (South Africa) Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1982/010082/06)
Company code: BITOY
(the “Issuer”)


NOTIFICATION OF A CHANGE TO THE CREDIT RATING OF THE PROGRAMME

Noteholders are advised that Moody’s Japan K.K has downgraded the global scale rating of the Issuer’s
Domestic Medium Term Note Programme (“Programme”) from (P)A2 to (P)A3; with the outlook remaining as
negative.

This rating action follows Moody's Investors Service downgrade of the Government of South Africa's
issuer and senior unsecured ratings to Ba2 from Ba1 on 20 November 2020.



25 November 2020

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 25-11-2020 02:53:00
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