Moody's gives Baa1 to Sasol

Moody's Investors Service said it assigned Baa1 senior unsecured foreign and local issuer ratings and Prime-2 short-term ratings to Sasol Ltd.

The outlook is stable.

Moody's said the ratings reflect the company's solid track record of technological expertise in the production of reliable and competitive liquid fuels from coal and its extensive integration across its production chain.

At the same time, the agency said the ratings are constrained by the relatively high cyclicality associated with its petroleum and chemicals products, particularly among some of its lower-margin operations in addition to exchange-rate volatility from high exposure to dollar-denominated markets.

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