Standard & Poor’s (S&P’s) Global Ratings has downgraded Transnet’s long-term foreign currency sovereign credit rating from BBB- to BB+, in line with its assessment of the sovereign rating. S&P’s, however, maintained Transnet’s stand-alone credit profile at bbb, which the parastatal said reflected its strong financial metrics and adequate liquidity. CEO Siyabonga Gama said S&P’s affirmation and acknowledgement of the critical role that Transnet plays in South Africa’s economy as a provider of …
Source: www.engineeringnews.co.za
Transnet says well-positioned to withstand downgrade
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