S&P raises Sasol’s credit rating to BB+ with a stable outlook
The ratings agency expects Sasol to deliver earnings before interest, tax, depreciation and amortisation of R79bn in 2023
31 October 2022 - 19:41
S&P Global Ratings upgraded its long-term issuer credit rating on Sasol to BB+, one notch below investment grade, based on the company’s successful efforts to use the proceeds of asset disposals to reduce its debt load.
The ratings agency also praised Sasol, which is most well known for producing oil from coal, for its improved operating efficiency and better cash flow generation on the back of strong commodity prices. S&P, which had previously assigned a BB rating to Sasol’s debt, assigned a stable outlook to the company’s revised credit rating...
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