Moody’s revises Sasol view to negative

Moody’s Investors Service said it revised the outlook for Sasol Ltd. to negative from under review and confirmed the company’s Ba2 corporate family and Ba2-PD probability of default ratings. Moody’s also confirmed Sasol’s South African national ratings.

The confirmations and outlook revision end the review for downgrade started on March 31, Moody’s said.

“The negative outlook reflects the downside risks from macroeconomic uncertainty and weak product prices at a time when Sasol has high leverage and weak free cash flows,” Moody’s said in a press release.

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