Moody’s trims Airports Co. South Africa

Moody’s Investors Service said it downgraded the rating of Airports Co. South Africa Ltd. to Ba1 from Baa3.

“As a result of the rating downgrade, ACSA’s issuer rating has been withdrawn and a corporate family rating of Ba1 has been assigned. Moody’s has also downgraded to Aa2.za from Aa1.za the national scale rating of ACSA. All ratings have been placed under review for downgrade. The outlook has been changed to ratings on review from negative,” the agency said in a press release.

The downgrade follows the downgrade of the ratings of the government of South Africa to Ba1 from Baa3 with a negative outlook on Friday, Moody’s said.

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