S&P ups Sasol view to stable

Standard & Poor's said it revised the outlook on Sasol Ltd. to stable from negative, and affirmed its BBB+/A-2 foreign-currency long- and short-term corporate credit ratings.

The outlook revision and affirmations follow recent similar actions on the Republic of South Africa's ratings.

The ratings are influenced by those on the sovereign since Sasol generates the bulk of its cash flows from its operations in South Africa, S&P said.

Sasol's credit profile incorporates significant financial headroom, given its robust balance sheet, the agency said.

The ratings also reflect its diversified and highly profitable domestic activities along the energy chain, particularly its unique coal-to-liquid synthetic fuel plant and Oryx gas-to-liquid plant, S&P said.

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