Moody’s upgrades Barloworld ahead of takeover
Ratings agency confident of industrial group’s continued credit metrics after proposed delisting
13 February 2025 - 17:46
Ratings agency Moody’s has upgraded takeover target Barloworld’s creditworthiness, saying the company would be able to maintain adequate credit metrics despite a downturn in the commodity cycle, “which has caused a decline in demand for heavy equipment in its main market of Southern Africa”.
Moody’s assigned a stable outlook on the industrial stalwart, saying that reflects its outlook on SA’s sovereign rating, where the company generates the majority of its revenue and cash flow...
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