STANDARD & POOR’S RATIFIES RATING OF KARDAN OF ilB
Amsterdam, August 4, 2016 - Kardan N.V. (“Kardan” / “the Company”), active in Real Estate,
Water Infrastructure and Financial Services in emerging markets announces that Maalot, the
Israeli subsidiary of Standard & Poor’s (“S&P”), has reported today that it has ratified the
rating of Kardan of ilB with outlook Negative, and of ilB for its Debentures Series A and
Series B.
S&P has ratified the rating of Kardan and its Debentures Series A and series B following the
completion of the sale of KWIG at the end of June 2016 and the expected sale of TBIF, as previously
announced by the Company.