THE THEKWINI FUND 17 (RF) LIMITED - Rating Action by Moodys Ratings

Rating Action by Moody’s Ratings

The Thekwini Fund 18 (RF) Limited ("Thekwini 18")
(incorporated with limited liability in the Republic of South Africa)
(Registration number: 2015/327767/06)
Issuer Code: TKWI18

Stock Codes: T18A21, T18A22, T18A23, T18A32, T18A33
ISIN Codes: ZAG000190364, ZAG000191693, ZAG000197302, ZAG000191735, ZAG000197336

The Thekwini Fund 18 (RF) Limited - Rating Action by Moody's Ratings

On 29 May 2024, Moody's Ratings (Moody's) published updates to its ratings methodologies applicable to South African
Mortgage-Backed Securitisations.

Following these updates, on 31 May 2024, Moody's announced that it has downgraded the global scale ratings (GSRs) of 28
Notes together with the national scale ratings (NSRs) of 5 Notes issued by seven Mortgage-Backed Securitisations administered
by SA Home Loans (Pty) Limited (SAHL).

The press release published by Moody's can be found through the following link:
Press Release

None of the national scale ratings assigned to Notes issued by Thekwini 18 were affected.

For further information, please contact:
Nicholas Gunning
Standard Bank
(011) 721 7112
Email: nicholas.gunning@standardbank.co.za

31 May 2024

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 31-05-2024 12:30:00
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