Fitch Withdraws Fintech's Expected Ratings
Fitch Ratings-London/Johannesburg-29 June 2009: Fitch Ratings has today withdrawn Fintech Receivables 3 (Pty) Limited's expected National ratings as listed below. In accordance with Fitch's policy, the expected ratings have been withdrawn because the bonds were not issued. Fitch has simultaneously withdrawn the pre-sale report for the transaction from its website.
CP: 'F1+(zaf)'
ZAR457.2m Class A notes: 'AAA(zaf)'; Stable Outlook
ZAR22.1m Class B notes: 'AA(zaf)'; Stable Outlook
ZAR30m Class C notes: 'A(zaf)'; Stable Outlook
ZAR22.1m Class D notes: 'BBB(zaf)'; Stable Outlook
ZAR6.7m Class E notes: 'BB+(zaf)'; Stable Outlook
Contacts: Joshua Cohen, Johannesburg, Tel: +27 11 380 0907; Alfons Ideler, +27 11 380 0901, Johannesburg.
Media Relations: Julian Dennison, London, Tel: +44 020 7682 7480, Email: julian.dennison@fitchratings.com.
Note to Editors: Fitch's National ratings provide a relative measure of creditworthiness for rated entities in countries with relatively low international sovereign ratings and where there is demand for such ratings. The best risk within a country is rated 'AAA' and other credits are rated only relative to this risk. National ratings are designed for use mainly by local investors in local markets and are signified by the addition of an identifier for the country concerned, such as 'AAA(zaf)' for National ratings in South Africa. Specific letter grades are not therefore internationally comparable.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
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