Quintis : Credit rating change (S&P)

23 June 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 CCC+ to CCC- and has placed the ratings on CreditWatch with negative implications.

S&P Global Ratings said it had lowered the ratings on Quintis because the Company's liquidity pressure has increased pending an upcoming interest payment due on its bonds on August 1 2017, and the potential for a put option to be exercised in July 2017.

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

ENDS

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