MERCEDES-BENZ SOUTH AFRICA LIMITED - MBSA Rating Action By Moodys Investor Services MEC

MBSA Rating Action By Moody’s Investor Services MEC

Mercedes-Benz South Africa Limited (Incorporated in the Republic of
South Africa) (Registration No. 1962/000271/06)
Bond Issuer code: MEC
(“Mercedes-Benz”)


MBSA RATING ACTION BY MOODY’S INVESTOR SERVICES

In accordance with paragraph 6.8 of the JSE Debt Listings
Requirements, noteholders are hereby advised that on 25 November
2020, Moody’s Investors Service (“Moody’s) downgraded Mercedes-Benz
South Africa Limited’s ("MBSA") backed senior unsecured domestic
medium-term note (DMTN) program’s global scale long-term issuer
ratings from (P)A3 to (P)Baa1. Moody's also affirmed MBSA's backed
senior unsecured MTN long term national scale program rating of
Aaa.za and the backed other short term national scale rating of P-
1.za. Moody’s affirmed the backed other short-term global scale
rating at (P)P-2.

The rating downgrade of MBSA follows the downgrade of the ratings of
the Government of South Africa to Ba2 from Ba1 with a negative
outlook on 20 November 2020.

Further details on the rating action can be viewed on the following
link:

https://www.moodys.com/credit-ratings/Mercedes-Benz-South-
Africa-Limited-credit-rating-808365385


Johannesburg

25 November 2020
Debt Sponsor
The Standard Bank of South Africa Limited
jsesponsor@standardbank.co.za

Date: 25-11-2020 04:15:00
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