Fitch affirms Super Group

Fitch Ratings said it affirmed Super Group Ltd.'s national long-term rating and unsecured bond ratings at BB-(zaf), along with its national short-term rating at B(zaf).

The outlook is negative.

The ratings are supported by strong shareholder and lender support, evidenced through shareholders recapitalizing the group post June 2009, Fitch said. Lenders also agreed to restructure long-term debt obligations, further improving liquidity, the agency said.

The outlook reflects an expectation that despite improvements in the group's credit profile in 2010, leverage will slightly weaken from 2011 onward, the agency said.

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