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S&P revises Sasol view to positive
S&P said it revised Sasol Ltd.’s outlook to positive from negative and affirmed its BB ratings.
“Sasol's swift recovery in credit metrics has been predicated on a combination of asset sales, management's targets for cash preservation, and supportive market conditions. Sasol's FFO to debt improved to 36% in FY2021 from around 13% in FY2020, well ahead of our previous expectations in November 2020 of 16%-17% in FY2021 and an average of 18% thereafter. Based on our revised forecasts, we now expect FFO to debt of around 35%-40% in FY2022, rising gradually in FY2023 and FY2024,” the agency said in a press release.
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