Quintis : Credit rating change (S&P)

31 May 2017

Credit rating change - S&P

Quintis (ASX:QIN, 'the Company'), the world's largest owner and manager of commercial Indian sandalwood plantations, advises that credit rating agency S&P Global Ratings has downgraded the Company's corporate credit rating and senior secured notes from B to CCC+ and has placed the ratings on CreditWatch with negative implications.

S&P Global Ratings said it had lowered the rating because of delays in confirming Quintis' Indian sandalwood sales into China which have increased the risk of lower plantation investor inflows.

This rating change has no impact on the Company's debt capital structure.

ENDS

For investor enquiries please contact:

Julius Matthys Alistair Stevens

Chief Executive Officer Chief Financial Officer

Ph: [phone] Ph: [phone]

For analyst enquiries please contact: For all media enquiries please contact:

Gerry Bullon Cameron Morse

[e-mail] FTI Consulting

Ph: 0418 106 675 Ph: 0433 886 871

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