Real People Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1999/020093/06)
("Real People" or "the Issuer")
Noteholders are advised that Moody's Investors Service ("Moody's") has, on 26 May 2017, downgraded the National and Global Scale Ratings of Real People, respectively, to Ca.za from Caa2.za and to Ca from Caa2. The ratings carry no outlook.
According to Moody's the downgrade captures the increased risk of Real People's creditors suffering significant losses, owing to a capital shortfall, following the announcement by Real People on 17 May 2017 that it has entered into a debt standstill agreement with the majority of its creditors.
Noteholders are further advised that the bonds issued by Real People are considered to be of a speculative nature and investors should seek independent professional advice prior to investing in the debt securities of the Issuer.
Noteholders are referred to the rating action notice released by Moody's for any additional information, also available on the company's website at http://www.realpeoplegroup.co.za/index.php?nav=credit-rating-reports.
30 May 2017
http://www.globenewswire.com/NewsRoom/AttachmentNg/f2223794-5b1a-4b65-a922-0f7ff1170a34
