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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" Oct 9 – Moody’s Investors Service has today announced a change in the mapping between its global scale credit ratings and its national scale ratings for South Africa. The revision takes into consideration Moody’s decision on 27 September 2012 to lower South Africa’s local currency ceiling to A1 on the global scale. The new mapping […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15425","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15425"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15425\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Oct 9 - Moody's Investors Service has today announced a change in the\nmapping between its global scale credit ratings and its national scale ratings\nfor South Africa. The revision takes into consideration Moody's decision on 27\nSeptember 2012 to lower South Africa's local currency ceiling to A1 on the\nglobal scale. The new \nmapping enables what is now the highest possible attainable rating on the \nglobal scale to translate to the highest possible rating on the national \nscale.\n\nMoody's uses national scale ratings to rank credits within certain\ndomestic markets. National scale ratings are intended as relative\nmeasures of creditworthiness within a narrowly defined peer group.\nMoody's global scale ratings, on the other hand, are measures of \ncreditworthiness within the full universe of Moody's-rated entities. \n\nIn order to maintain consistency between national scale rating levels and \nglobally comparable expected loss characteristics, Moody's uses a mapping \nschema to establish the relationship between globally comparable ratings \nand their equivalent re-expression on a national scale. By their nature, \nnational scale rating mappings are subject to change.\n\nThe new mapping schema differs from the previous schema in just one \nrespect: Previously a Aa3 global scale rating was required to obtain a \nAaa.za rating on the national scale, whereas now a A1 global scale rating \nmay be sufficient to obtain a Aaa.za.\n\nThe principal methodology governing Moody's national scale ratings,\n\"Mapping Moody's National Scale Ratings to Global Scale Ratings,\" was \nre-published today to reflect the change to the mapping for South Africa. \nPlease see the Credit Policy page on www.moodys.com for a copy of this \nmethodology.\n\nNOTE TO JOURNALISTS ONLY: For more information, please call one of our \nglobal press information hotlines: New York +1-212-553-0376, London \n+44-20-7772-5456, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney \n+61-2-9270-8141, Mexico City 001-888-779-5833, S\u00e3o Paulo 0800-891-2518, \nor Buenos Aires 0800-666-3506. You can also email us at \nmediarelations@moodys.com or visit our web site at www.moodys.com.\n\n \n\n\n\nKenneth Emery\nSenior Vice President\nCorporate Finance Group\nMoody's Investors Service, Inc.\n250 Greenwich Street\nNew York, NY 10007\nU.S.A.\nJOURNALISTS: 212-553-0376\nSUBSCRIBERS: 212-553-1653\n\nRichard Cantor\nChief Risk Officer\nCredit Policy\n\nReleasing Office:\nMoody's Investors Service, Inc.\n250 Greenwich Street\nNew York, NY 10007\nU.S.A.\nJOURNALISTS: 212-553-0376\nSUBSCRIBERS: 212-553-1653\n\n\u00a9 2012 Moody's Investors Service, Inc. and\/or its licensors \nand affiliates (collectively, \"MOODY'S\"). All rights reserved.\n\n\n\nCREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. \n(\"MIS\") AND ITS AFFILIATES ARE MOODY'S CURRENT OPINIONS OF THE RELATIVE \nFUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT \nOR DEBT-LIKE SECURITIES, AND CREDIT RATINGS AND RESEARCH \nPUBLICATIONS PUBLISHED BY MOODY'S (\"MOODY'S PUBLICATIONS\") MAY INCLUDE \nMOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, \nCREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. \nMOODY'S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS \nCONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED \nFINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS \nANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, \nMARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND \nMOODY'S OPINIONS INCLUDED IN MOODY'S PUBLICATIONS ARE NOT STATEMENTS OF \nCURRENT OR HISTORICAL FACT. CREDIT RATINGS AND MOODY'S PUBLICATIONS \nDO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND \nCREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT AND DO NOT PROVIDE\nRECOMMENDATIONS \nTO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. NEITHER \nCREDIT RATINGS NOR MOODY'S PUBLICATIONS COMMENT ON THE SUITABILITY OF \nAN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY'S ISSUES ITS CREDIT \nRATINGS AND PUBLISHES MOODY'S PUBLICATIONS WITH THE EXPECTATION AND\nUNDERSTANDING \nTHAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY \nTHAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.\n\n\n\nALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING \nBUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION \nMAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER \nTRANSMITTED, TRANSFERRED,DISSEMINATED, REDISTRIBUTED \nOR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, \nIN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, \nBY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. \n\n\n\nAll information contained herein is obtained by MOODY'S from sources believed \nby it to be accurate and reliable. Because of the possibility of \nhuman or mechanical error as well as other factors, however, \nall information contained herein is provided \"AS IS\" without warranty \nof any kind. MOODY'S adopts all necessary measures so that the \ninformation it uses in assigning a credit rating is of sufficient quality \nand from sources MOODY'S considers to be reliable including, when \nappropriate, independent third-party sources. However, \nMOODY'S is not an auditor and cannot in every instance independently verify \nor validate information received in the rating process. Under no \ncircumstances shall MOODY'S have any liability to any person or entity \nfor (a) any loss or damage in whole or in part caused by, resulting \nfrom, or relating to, any error negligent or otherwise or \nother circumstance or contingency within or outside the control of MOODY'S \nor any of its directors, officers, employees or agents in \nconnection with the procurement, collection, compilation, \nanalysis, interpretation, communication, publication \nor delivery of any such information, or (b) any direct, indirect, \nspecial, consequential, compensatory or incidental damages \nwhatsoever (including without limitation, lost profits), even \nif MOODY'S is advised in advance of the possibility of such damages, \nresulting from the use of or inability to use, any such information. \nThe ratings, financial reporting analysis, projections, \nand other observations, if any, constituting part of the information \ncontained herein are, and must be construed solely as, statements \nof opinion and not statements of fact or recommendations to purchase, \nsell or hold any securities. Each user of the information contained \nherein must make its own study and evaluation of each security it may \nconsider purchasing, holding or selling. \n\n\n\nNO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, \nTIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY \nPARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION \nIS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER.\n\n\n\nMIS, a wholly-owned credit rating agency subsidiary of Moody's \nCorporation (\"MCO\"), hereby discloses that most issuers of debt \nsecurities (including corporate and municipal bonds, debentures, \nnotes and commercial paper) and preferred stock rated by MIS have, \nprior to assignment of any rating, agreed to pay to MIS for appraisal \nand rating services rendered by it fees ranging from $1,500 \nto approximately $2,500,000. MCO and MIS also \nmaintain policies and procedures to address the independence of MIS's \nratings and rating processes. Information regarding certain affiliations \nthat may exist between directors of MCO and rated entities, and \nbetween entities who hold ratings from MIS and have also publicly reported \nto the SEC an ownership interest in MCO of more than 5%, \nis posted annually at www.moodys.com under the heading \"Shareholder \nRelations - Corporate Governance - Director and Shareholder \nAffiliation Policy.\"\n\n\n\nAny publication into Australia of this document is by MOODY'S affiliate, \nMoody's Investors Service Pty Limited ABN 61 003 399 657, which \nholds Australian Financial Services License no. 336969. \nThis document is intended to be provided only to \"wholesale clients\" within \nthe meaning of section 761G of the Corporations Act 2001. By continuing \nto access this document from within Australia, you represent to \nMOODY'S that you are, or are accessing the document as a representative \nof, a \"wholesale client\" and that neither you nor the entity you \nrepresent will directly or indirectly disseminate this document or its \ncontents to \"retail clients\" within the meaning of section 761G of the \nCorporations Act 2001.\n\n\n\nNotwithstanding the foregoing, credit ratings assigned on and after \nOctober 1, 2010 by Moody's Japan K.K. (\"MJKK\") are \nMJKK's current opinions of the relative future credit risk of entities, \ncredit commitments, or debt or debt-like securities. \nIn such a case, \"MIS\" in the foregoing statements shall be deemed \nto be replaced with \"MJKK\". MJKK is a wholly-owned credit \nrating agency subsidiary of Moody's Group Japan G.K., \nwhich is wholly owned by Moody's Overseas Holdings Inc., \na wholly-owned subsidiary of MCO.\n\n\n\nThis credit rating is an opinion as to the creditworthiness or a debt \nobligation of the issuer, not on the equity securities of the issuer \nor any form of security that is available to retail investors. \nIt would be dangerous for retail investors to make any investment decision \nbased on this credit rating. If in doubt you should contact your \nfinancial or other professional adviser.<\/pre>\n