PSG KONSULT LIMITED - KST : PSG Konsult Credit Rating Upgrade And Stable Outlook

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KST : PSG Konsult Credit Rating Upgrade And Stable Outlook: <BR>
PSG KONSULT LIMITED<BR>
(Incorporated in the Republic of South Africa)<BR>
Registration Number: 1993/003941/06<BR>
JSE Share Code: KST<BR>
NSX Share Code: KFS<BR>
SEM Share Code: PSGK.N0000<BR>
ISIN Code: ZAE000191417<BR>
("PSG Konsult" or "the Company")<BR>
<BR>
PSG KONSULT TREASURY LIMITED<BR>
(Incorporated in the Republic of South Africa)<BR>
Registration Number: 2014/196582/06<BR>
Company Code: BICAP<BR>
ISIN Code: ZAG000145285<BR>
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PSG KONSULT CREDIT RATING UPGRADE AND STABLE OUTLOOK<BR>
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Shareholders are advised that the rating agency Global Credit Rating Company ("GCR") has<BR>
reviewed the ratings of PSG Konsult under the recently released Appendix Criteria for Rating<BR>
Asset Managers, November 2019.<BR>
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PSG Konsult's long-term South African national scale rating has been upgraded to A(ZA) from<BR>
A-(ZA), while PSG Konsult's short-term South African national scale rating has been revised to<BR>
A1(ZA), from A1-(ZA), due to a change in the long- to short-term mapping tables. The outlook is<BR>
stable.<BR>
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GCR states, "The South African National Scale ratings on PSG Konsult are anchored in its<BR>
operating environment (as a predominantly South Africa based financial services group), it also<BR>
reflects a modest competitive position, net ungeared balance sheet, good cash flows, moderate<BR>
earnings and good liquidity.<BR>
<BR>
The leverage and cash flow assessment is a strong positive rating factor for PSG Konsult, due to<BR>
its net ungeared position. The entity has conservatively managed capital and debt over its rating<BR>
history, and we believe this trend will continue going forward.<BR>
<BR>
Liquidity is considered to be strong. PSG Konsult demonstrates consistent sources of liquidity<BR>
which cover more than 2x its anticipated uses, due to the good cash flow, strong balance sheet<BR>
liquidity and limited liability risk. There is also no refinancing or covenant risk."<BR>
<BR>
Tyger Valley<BR>
4 December 2019<BR>
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JSE Sponsor: PSG Capital Proprietary Limited<BR>
NSX Sponsor: PSG Wealth Management (Namibia) Proprietary Limited, member of the Namibian<BR>
Stock Exchange<BR>
<BR>
SEM authorised representative and SEM Sponsor: Perigeum Capital Ltd<BR>
This notice is issued pursuant to the JSE Limited Listings Requirements, the SEM Listing Rules<BR>
and the Mauritian Securities Act 2005. The board of directors of PSG Konsult accepts full<BR>
responsibility for the accuracy of the information contained in this communique.<BR>
<BR>
Date: 04-12-2019 08:30:00<BR>
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