S&P lifts Sasol to stable

Standard & Poor's said it revised to stable from negative the outlook on Sasol Ltd.

The agency also said it affirmed the company's BBB long-term and A-2 short-term foreign-currency corporate credit ratings.

S&P also said it affirmed the BBB rating on Sasol's senior unsecured notes maturing in 2022, which were issued by Sasol Financing International plc and are unconditionally guaranteed by Sasol.

The outlook revision signifies that Sasol could maintain sufficient liquidity to cover its commitments in the event of extreme stress on the sovereign, the agency said.

Therefore, S&P said it no longer limits the rating on Sasol to the long-term rating on South Africa.

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