AECI Limited Change to the credit rating of the Issuer

 
TIDM87FZ 
 
AECI LIMITED 
 
                (Incorporated in the Republic of South Africa) 
 
                       (Registration No. 1924/002590/06) 
 
                              Company code: AECI 
 
                           ("AECI" or "the Issuer") 
 
NOTIFICATION OF A CHANGE TO THE CREDIT RATING OF THE ISSUER 
 
Noteholders are advised that, on 26 June 2019, GCR Ratings ("GCR") has upgraded 
the Issuer's long term national scale rating from A(za) to A+(za) and affirmed 
the short term national scale rating at A1(za); with a stable outlook. 
 
The rating upgrade on the Issuer reflects its strong market position and is 
further supported by strong cash flow generation and modest forward-looking 
leverage levels. 
 
The full report will be made available at https://www.aeciworld.com/ 
investor-relation-credit-rating.php 
 
3 July 2019 
 
Debt Sponsor 
 
Rand Merchant Bank 
 
(A division of FirstRand Bank Limited) 
 
 
 
END

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