Roads agency Sanral’s credit rating has been affirmed by rating agency Moody’s Investors Service, according to a report.
Sanral’s credit rating has been downgraded three times since February last year and was placed under review for a downgrade in September, according to a report in the Business Report newspaper.
However, following the implementation of e-tolling on Gauteng’s highways last week, Moody’s said on Friday that it had confirmed Sanral’s rating with a negative outlook.
The negative outlook incorporated the operational risks associated with e-toll collection, Moody’s said.
Sanral’s credit rating outlook mirrored the negative outlook on South Africa’s sovereign rating. — Sapa