Moody’s confirms Airports Co.

Moody’s Investors Service said it confirmed the Baa3 global scale long-term issuer ratings assigned to Airports Co. South Africa SOC Ltd. with a stable outlook.

The agency also affirmed the Aa1.za national scale rating with a stable outlook.

This concludes the review for downgrade initiated on Nov. 28.

The agency said the action follows the confirmation of the Baa3 ratings of the government of South Africa.

“The confirmation of ACSA's Baa3 ratings with a stable outlook reflects the fact that ACSA's ratings are constrained by those of the government of South Africa given that Moody's would not see ACSA rated higher than the government of South Africa,” Moody’s said in a news release.

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