NASPERS’s credit rating may be cut to junk at its next review by S&P Global Ratings.The ratings agency said on Thursday that it had changed its outlook on Naspers’s BBB-credit rating to negative, indicating it may cut the media group’s rating to BB+ or worse within six months to two years.BBB-is the lowest rating considered investment grade. Everything under that is generally called "junk", and the mandates of many pension fund management firms prohibit them from holding corporate bonds which have fallen into junk status.READ THIS: The price of a share not necessarily an indication of its worth"The outlook revision reflects our view that Naspers’ profitability will weaken in its 2017 fiscal year ending March 31, following its lacklustre reported revenues and profitability in 2016," S&P said in its analysis of Naspers.In June, Naspers reported a 20% drop in aftertax profit of $1.26bn for its past financial year.Its pay-TV subscriber base in SA and neighbouring countries fell by 288,0...
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