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UG26 UG21
Credit rating announcement

Company code : BIUMWA
Stock Codes:
UG21: ZAG000075698
UG26: ZAG000133760


Noteholders are advised that S&P Global Ratings (S&P) has affirmed Umgeni Water's National Scale
Rating at ' zaAAA '.

The affirmation reflects S&Ps view of the almost-certain likelihood of government support of Umgeni

The full rating announcement will be made available upon request.

3 December 2019

Debt Sponsor
Nedbank Corporate and Investment Banking

Date: 03-12-2019 12:15:00
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