Transnet confident it has allayed Moody’s main concerns
A potential default on R14bn of debt by the rail utility has been resolved
Transnet, SA’s state-owned rail and ports utility, says it has addressed the concerns underlying the change in outlook to negative by ratings agency Moody’s Investors Service.
Transnet’s outlook was lowered to negative from stable by Moody’s but it kept the utility’s investment grade intact. Acting CFO Mark Gregg-Macdonald said on Monday that the agency’s main concerns have been largely addressed and that another review is due in three months’ time...