GCR places Fox Street 5 (RF) Limited ratings ‘Under Review’
Johannesburg, 20 April 2018 — Global Credit Ratings has today placed the following final, public long-term credit ratings accorded to the following Notes issued by Fox Street 5 (RF) Ltd, ‘Under Review’:
Class A3 Notes,
stock code FS5A3U;
Class A4 Notes,
stock code FS5A4U;
Class A5 Notes,
stock code FS5A5U;
Class B1 Notes,
stock code FS5B1U;
Class C1 Notes,
stock code FS5C1U;
Positive Outlook; and
Class D1 Notes,
stock code FS5D1U;
The ‘Under Review’ process allows for a time extension of the ratings and is not linked to the performance of Fox Street 5 (RF) Limited. The ratings were scheduled to be reviewed by 20 April 2018. GCR expects to publicly release the updated ratings by 18 May 2018. The existing ratings continue to be supported by GCR.
The Class A2 Notes was paid in full on 22 January 2018.
CREDIT RATINGS ISSUED AND RESEARCH PUBLICATIONS PUBLISHED BY GCR, ARE GCR’S OPINIONS, AS AT THE DATE OF ISSUE OR PUBLICATION THEREOF, OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. GCR DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL AND/OR FINANCIAL OBLIGATIONS AS THEY BECOME DUE. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: FRAUD, MARKET LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND GCR’S OPINIONS INCLUDED IN GCR’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS AND GCR’S PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS AND GCR’S PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL OR HOLD PARTICULAR SECURITIES. NEITHER GCR’S CREDIT RATINGS, NOR ITS PUBLICATIONS, COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. GCR ISSUES ITS CREDIT RATINGS AND PUBLISHES GCR’S PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING OR SALE.
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