Sasol shares lose 6% as outlook gets gloomier
Moody’s downgrades chemicals group to junk, but it has been outside the ratings agency’s investment-grade band since 2018
Chemicals group Sasol, whose share price has fallen more than 60% over the past 12 months, has been cut to junk status by Moody’s Investors Service on high debt and problems at its Lake Charles project in the US.
Sasol’s share price ended down 5.9% at R159.72 on Friday, having earlier fallen as much as 7.4%. The share price has almost halved so far in 2020...