Oct 18 – Standard Poor’s Ratings Services said today that it has revised its South Africa
national scale ratings on various companies (see list below). The rating actions follow the
publication of revised mapping guidance for the South Africa national credit
rating scale (see “Standard Poor’s Revises Mapping Guidance For South Africa
National Credit Rating Scale Following Sovereign Downgrade,” published Oct.
15, 2012 on RatingsDirect on the Global Credit Portal). The revised mapping
guidance follows the downgrade of the Republic of South Africa on Oct. 12,
2012 (see “South Africa FC Long-Term Rating Lowered To ‘BBB’; LC Ratings
Lowered To ‘A-/A-2’; Outlook Remains Negative”). The South Africa national
scale ratings on the Republic of South Africa are unchanged at ‘zaAAA/zaA-1’.
The rating actions do not reflect any change in our view of the fundamental
credit quality of the companies listed below, but result from recalibrating
our South Africa national rating scale.
South Africa national scale credit ratings express relative opinions about the
creditworthiness of an issuer or credit quality of an individual debt issue,
from strongest to weakest, within a universe of credit risk within the
country. With the revised mapping, the more creditworthy entities in the
country will receive higher national scale ratings, in line with our national
scale criteria.
RATINGS LIST
To From
AngloGold Ashanti Ltd.
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