The original article can be found here.
Article highlights:
- Transnet vowed to work with the government to guide its future audits as the group risks defaulting on multi-billion rand near-term debt maturities.
- This comes as Moody’s Investor Services has downgraded Transnet’s ratings status due to its weak liquidity profile and weak corporate governance.
- Transnet’s baseline credit assessment (BCA), a measure of standalone credit quality prior to any assessment of potential extraordinary government support, was lowered to b1 from ba3 with a negative outlook.
