ACCELERATE PROPERTY FUND LIMITED - APFE - Notification of a Change to the Credit Rating of the Issuer and the Senior Secured Notes

APFE -  Notification of a Change to the Credit Rating of the Issuer and the Senior Secured Notes

Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
LEI Number: 3789008641F1D3D90E85
(Approved as a REIT by the JSE)
("Accelerate" or the "Issuer")

NOTIFICATION OF A CHANGE TO THE CREDIT RATING OF THE ISSUER AND THE SENIOR SECURED
NOTES

Noteholders are advised that GCR Ratings ("GCR") has on 18 September 2024, downgraded
Accelerate's national scale long-term issuer rating to B(ZA) from BB+(ZA) with the short-term rating
affirmed at B(ZA). Concurrently, the rating of the senior secured notes has been downgraded to BB(ZA)(EL),
from BBB(ZA)(EL), with the outlook being revised to negative from evolving.

Fourways
19 September 2024

Debt Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 19-09-2024 11:40:00
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