Transnet on downgrade watch by Moody’s

Ratings agency Moody’s Investors Service has placed Transnet’s credit ratings on review for a downgrade, saying that it is concerned about the entity’s weakening liquidity position and high refinancing risk.

Transnet has debt maturities of about R10bn from December to March 2024, including the November R4.6bn short-term bond that was rolled over by the Public Investment Corporation. Repayment is due in March...

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