TEXT-Fitch revises South Africa national ratings

Transnet SOC Ltd Long-term National Rating revised to 'A+(zaf)'/Stable

Transnet SOC Ltd Short-term National Rating revised to 'F1(zaf)'

Transnet SOC Ltd senior unsecured rating (bank credit facility) revised to 'A+(zaf)'

Transnet SOC Ltd senior unsecured rating (guaranteed bonds) revised to 'AA+(zaf)'

Barloworld Ltd Long-term National Rating and senior unsecured rating revised to 'AA-(zaf)'/Stable

Aveng Ltd Long-term National Rating revised to 'A+(zaf)'/Stable

Naspers Ltd (Naspers)Long-term National Rating revised to 'A+(zaf)'/Stable

Sappi Southern Africa (Pty) Ltd National Rating and senior unsecured rating revised to 'A+(zaf)'/Stable

Pick n Pay Stores Ltd National Rating revised to 'A+(zaf)'/Negative

Affected debt instruments issued by TCTA projects: Berg Water Project, Vaal River Eastern Sub-System Augmentation Project, Mooi-Mgeni Transfer Scheme phase 2, Komati Water Scheme Augmentation Project and Mokolo Crocodile Water Augmentation Project National Long-term ratings were revised to 'AA(zaf)' with Stable Outlooks. The Short-term ratings remain unchanged at 'F1+(zaf)'.

All other short-term South African national ratings of the affected issuers remain unchanged.

Unaffected issuers:

Steinhoff International Holdings Ltd remained at 'A-(zaf)'/Negative

Steinhoff Services (Pty) Ltd remained at 'A-(zaf)'/Negative

Airports Company South Africa (ACSA) remained at 'AA-(zaf)'/Stable

Alexander Forbes Preference Share Investments Ltd senior unsecured rating remained 'BB-(zaf)'