Fitch: Eskom, Transnet views to negative

Fitch Ratings said it revised the outlook on Eskom Holdings SOC Ltd. and Transnet SOC Ltd. to negative from stable and affirmed their long-term local-currency issuer default ratings.

The outlook revision follows the revision of the outlook on South Africa’s long-term issuer default rating to negative from stable, the agency said.

Eskom’s ratings remain strongly linked to those of the South African sovereign based on the agency’s assessment of its legal, operational and strategic ties, S&P said.

The ratings affirmed include Eskom’s long-term local-currency issuer default rating at BBB+, senior unsecured local-currency rating at BBB+, national long-term rating at AAA(zaf) and national short-term rating at F1+(zaf).

Transnet’s long-term foreign-currency issuer default rating was affirmed at BBB, foreign-currency senior unsecured rating at BBB, short-term foreign-currency issuer default rating at F3, long-term local-currency issuer default rating at BBB, local-currency senior unsecured rating at BBB, short-term local-currency issuer default rating at F3, national long-term rating at AA(zaf), national short-term rating at F1+(zaf) and national senior unsecured rating at AA(zaf).

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