Credit rating notification
Credit ratingNot material
In brief
GCR Ratings upgraded Hyprop's long term and short term national scale issuer ratings to AA-(ZA) and A1+(ZA), with a stable outlook. It also affirmed its international scale issuer ratings at BB- and B, with a stable outlook.
The announcement
Credit rating notification HYPROP INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/005284/06) JSE share code: HYP ISIN: ZAE000190724 JSE bond issuer code: HYPI (Approved as a REIT by the JSE) ("Hyprop" or "the Company") CREDIT RATING NOTIFICATION Shareholders and noteholders are advised that GCR Ratings ("GCR") has upgraded Hyprop’s long term and short term national scale issuer ratings to AA-(ZA) and A1+ (ZA), respectively, with a stable outlook. GCR also affirmed the long term and short term international scale issuer ratings at BB- and B respectively, with a stable outlook. GCR note in their rating notification: - The rating upgrade and stable outlook reflect Hyprop’s notable improvements in its capital structure and gearing metrics over the past 24 months; - Hyprop’s robust liquidity position, with ZAR1.7 billion in cash at 30 June 2026 and ZAR2.1 billion in unutilised committed facilities; - The strong performance of the SA and EE property portfolios, increase in property valuations and further international diversification following the Galleria Burgas acquisition; and - The stable outlook reflects GCR’s expectation that Hyprop’s operational performance will remain strong, the LTV will remain around 30% and that interest coverage will be above 3.0 times. The full GCR notification is available at https://www.hyprop.co.za/pdf/investors/gcr-rating/gcr-rating-2026.pdf 29 October 2026 Sponsor Java Capital Debt sponsor The Standard Bank of South Africa Limited Date: 29/10/2026 01:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.