OREANDA-NEWS. The criteria framework is unchanged and as such Fitch does not expect any rating impact as a result of this criteria update.

The updated report clarifies PCM output levels for 'F1+(zaf)', 'F1(zaf)' and 'F2(zaf)' ratings; input rating for assets in PCM; and the minimum risk horizon for assets. It replaces the report of the same name dated 7 October 2015.

The full 'Global Rating Criteria for ABCP - South Africa Addendum' is available at 'www.fitchratings.com'.