Ratings agency Moody’s Investors Service expects Telkom’s performance to improve over the coming year-and-a-half, which would help to improve its credit metrics, but the ratings agency didn’t give the telecom operator the benefit of the doubt entirely.

In a note on Wednesday, Moody’s affirmed Telkom’s corporate family rating of Ba2 but downgraded its national scale rating (NSR) to Aa2.za from Aa1.za...

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