Appointment of moody’s uk limited to conduct credit rating services for a period of one (1) year

• This is a request for approval to appoint Moody's UK Limited via a single-source procurement process.
• Requirement: Credit rating services for a period of one year.
• Background: Sasria has an immediate service gap for instrument-level credit ratings data critical for financial reporting, valuation, and risk management.
• Moody's is proposed due to its prior relationship with Sasria, unique institutional knowledge of the portfolio, and ability to ensure continuity of service within urgent timelines.

• General enquiries: Email [email protected], Phone +27 11 214 0800.
• Department: Finance.
• Physical address: 24 Fricker Road, Illovo 2196, Gauteng.
• Postal address: PO Box 653367, Benmore 2010.

Not applicable - this is a single-source procurement request specifically for Moody's UK Limited based on their prior engagement with Sasria, unique institutional knowledge of Sasria's portfolio, existing system compatibility, and ability to immediately mobilize. No competitive bidding process is being conducted.

• Scope: Provision of instrument-level credit ratings data across Sasria's investment portfolio.
• Purpose: To support financial reporting, valuation processes, actuarial functions, and risk monitoring.
• Key Requirements:

• Deliver accurate, timely, and comprehensive credit ratings across multiple asset classes.
• Provide data with global credibility and established methodologies.
• Ensure seamless system compatibility and data integration with Sasria's existing frameworks.
• Meet tight reporting timelines to support upcoming financial reporting deadlines and audit requirements.

• Context: This is a single-source procurement for a 12-month period to ensure business continuity while a new provider (CareEdge) finalises its onboarding.

• Requirement: Provide instrument-level credit ratings data across Sasria's investment portfolio to support financial reporting, valuation, and risk monitoring.
• Approach: Direct appointment of Moody's through a single-source procurement.
• Justification: Moody's is a globally recognised credit rating agency with prior engagement, existing system integration, and proven ability to deliver within tight reporting timelines.

• The procurement must comply with Sasria's Delegation of Authority Policy.
• Final award decisions:

• Exceeding R1 million require approval by the Bid Adjudication Committee (BAC).
• Below R1 million are approved by the Head of Procurement.

• Procurement must follow Sasria's Delegation of Authority Policy.
• Award decision authority:

• Exceeds R1 million: Mandate of the Bid Adjudication Committee (BAC).
• Below R1 million: Approved by the Head of Procurement.

• The provider must demonstrate the ability to deliver consistent, high-quality credit ratings across a wide range of asset classes.

• This is a single-source procurement for the appointment of Moody’s UK Limited to provide instrument-level credit rating services for one year.
• The Bid Adjudication Committee is requested to approve a deviation from competitive procurement.
• Background: A service gap exists due to the end of a previous contract and ongoing onboarding of a new provider.
• The service is critical for financial reporting, valuation, and risk management to meet compliance deadlines.

• Contract start date (Option 2): 29 June 2026.
• Contract end date (Option 2): 28 June 2027.
• Complimentary access period (Option 1): 29 June 2026 to 29 December 2026.
• Contract start date (Option 1): 29 December 2026.
• Contract end date (Option 1): 28 December 2027.

• Department: FINANCE.
• Prepared by: Prudence Seabela (Contract Administrator).
• Reviewed by: Kamal Mitha (Head of Investments).
• Supported by: Tebogo Ledwaba (Senior Strategic Sourcing Specialist).
• Endorsed by: Sibusiso Shongwe (Senior Finance Manager).
• Endorsed by: Kwanele Ncube (Head of Actuarial).
• Recommended by: Pinky Hlungwani (Head of Procurement).

• Annexure A: CFO Approval.
• Annexure B: PR Form.

Not applicable as this is a single-source appointment. However, the document notes Moody's UK Limited is an international supplier not registered on South Africa's Central Supplier Database (CSD), with tax compliance and B-BBEE requirements marked as N/A for international suppliers.

• Scope: Provision of instrument-level credit ratings data for Sasria's investment portfolio, covering approximately 700 instruments.
• Service supports financial reporting, valuation, actuarial, and risk management processes.
• Deliverables include issuer-level and instrument-level ratings, including historical data where required.
• Service will be delivered through Moody’s established systems and data delivery frameworks.
• Two contract options:

• Option 1: 18-month contract (includes 6 months complimentary access).
• Option 2: 12-month contract (recommended).

• Option 1 (18 months): £57,970.50 GBP for instrument and organisation files.
• Option 1 total list fees: £70,786.34 GBP with an 18% discount, resulting in savings of £12,815.84.
• Option 2 (12 months): £55,210.00 GBP for instrument and organisation files.
• Option 2 total list fees: £70,786.34 GBP with a 22% discount, resulting in savings of £15,576.34.
• Estimated annual contract value: GBP 55,210 (approximately R1,275,251.00 excluding VAT).

• Two pricing options:

• Option 1: 18 months at £57,970.50 GBP (VAT Excl).
• Option 2: 12 months at £55,210.00 GBP (VAT Excl).

• Estimated contract value (Option 2): Approximately R1,275,351.00 (VAT Excl), based on exchange rate with 5% fluctuation.
• Budget provision is made within the Investment Department's approved budget.
• Payment terms and bonds are not specified.

• Moody’s UK Limited is an international supplier and is not registered on the National Treasury Central Supplier Database (CSD).
• Tax compliance check: Not applicable.
• Black shareholding: Not applicable as supplier is international.
• Declaration of interest: Signatories declared no conflict of interest.

• Black shareholding percentage is not applicable as the supplier is an international company.

• Signatories declared no conflict of interest with the referenced bidder.