ACSA Rating Action by Moody’s Investor Services – SENS

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ACSA Rating Action By Moody’s Investor Services

Airports Company South Africa SOC Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/004149/30)
(“ACSA”) or (“the Company”)

Issuer Code: BIACSA

ACSA RATING ACTION BY MOODY’S INVESTOR SERVICES

In accordance with paragraph 6.8 of the JSE Debt Listings Requirements,
noteholders are hereby advised that on 05 April 2022, Moody’s Investors
Service affirmed the Ba2 Corporate Family Rating (CFR) and the Aa2.za
national scale long-term issuer rating of Airports Company South Africa
SOC Ltd. This rating action follows the affirmation of the government
and a change in outlook from negative to stable on 1 April 2022.

The rating outlook of Airports Company South Africa SOC Ltd remains
negative which largely reflects continued risks to the company’s credit
profile linked to the significant uncertainties around traffic recovery
prospects and the regulatory determination effective from 1 April 2023.

Further details on the rating action can be viewed on the following
link:

https://www.moodys.com/research/Moodys-affirms-ACSAs-Ba2-rating-
maintains-negative-outlook–PR_464685

Airports Company South Africa notes the rating action by Moody’s to affirm
both the Ba2 Corporate Family Rating (CFR) and the Aa2.za national scale long-term
issuer rating.

Johannesburg
06 April 2022
Debt Sponsor
The Standard Bank of South Africa Limited

Date: 06-04-2022 11:55:00
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