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ALERT: Moody’s downgrades Eskom, Sasol, MTN, ACSA… and more

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(Picture: Supplied)
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Cape Town – Moody’s downgraded the credit ratings of Eskom, Sasol, MTN, ACSA and has taken action on eight other South African corporates.

The downgrade follows their decision to downgrade the country’s long-term foreign and local currency debt ratings by one notch from Baa2 to Baa3 with a negative outlook on Friday.

On Monday, it downgraded the credit ratings of South Africa’s top five banks, three development finance institutions, certain City Power and Sanral credit ratings, and 10 regional and local governments.

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