PEPKOR HOLDINGS LIMITED - PPH PPHI - Review of Pepkors Credit Opinion

PPH PPHI - Review of Pepkor’s Credit Opinion

PEPKOR HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share code: PPH
Debt code: PPHI
ISIN: ZAE000259479
LEI: 3789006D677C34F69875
("Pepkor")

REVIEW OF PEPKOR'S CREDIT OPINION

Shareholders and noteholders are advised that Moody's Investors Service ("Moody's") has on 28
March 2024 concluded a review on Pepkor's credit opinion. Pepkor's Corporate Family Rating of
Ba2 and National Scale Long Term Rating of Aa1.za with a stable outlook remain unchanged.

In their credit opinion, Moody's highlights Pepkor's strong position in the budget-conscious
consumer clothing segment, its resilient business profile through the cycle and good liquidity as
credit strengths. Credit challenges include the difficult operating environment and concentration
of stores in South Africa.

2 April 2024
Parow

JSE Equity sponsor:
Investec Bank Limited

Debt sponsor and corporate broker:
Rand Merchant Bank (a division of FirstRand Bank Limited)




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Date: 02-04-2024 02:04:00
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