JSE ends the week firmer amid mixed international peers
SA will start running out of time to solve the looming problem by the time sufficient generation capacity comes on grid
Transnet wants the new port at Boegoebaai in the Northern Cape to be operational by 2026
Nomusa Dube-Ncube, Amanda Bani and Mbali Frazer were interviewed for the position of premier on Saturday
Companies will do what they can to increase market share in what is considered to still be a largely untapped market
Potentially disastrous effects of free inflow of dumped chicken leave small farmers at risk
Transnet, Telkom and Eskom estimate that thieves and vandals cost them a total of R7bn a year due to metal theft
Cairo-mediated truce comes after three days of violence which left at least 43 people dead
Every time All Black coach Ian Foster fronts the media, he presents it with denial, not truth and honest appraisal
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S&P Global Ratings has cut PPC’s rating to one notch above non-investment grade as falling cement demand and stiff competition dampen the prospects of the company’s SA business. “The downgrade follows weaker-than-expected profitability in PPC’s South African business coupled with ongoing macroeconomic and currency regime uncertainty in Zimbabwe,” S&P said on Tuesday.
“As a result, we expect an increase in the group’s debt to ebitda (earnings before interest, tax, depreciation and amortisation), tighter covenant headroom, and potentially also a greater reliance on shorter-term working-capital facilities to meet upcoming debt maturity obligations, if the group is unable to extend its debt maturity schedule,” it said.
S&P said that due to declining demand for cement and increased competition in SA, PPC’s debt-reduction prospects in the local market have been dampened.
In the nine months ended December, PPC’s Southern African business increased cement prices as much as 2%, while...
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