Moody’s downgrades Sasol

Moody's Investors Service said it downgraded the global scale long-term issuer ratings assigned to Sasol Ltd. and the senior unsecured notes rating of Sasol Financing International Ltd. to Baa3 from Baa2.

The outlook is negative.

At the same time, Sasol's national scale long-term issuer rating was raised to Aaa.za from Aa1.za to reflect the revised national scale mapping table for South Africa.

Moody’s said the action follows the weakening of the South African government's credit profile, in particular in the country's institutional, economic and fiscal strength, along with slower structural reform progress as captured by Moody's recent decision to downgrade South Africa's government bond ratings to Baa3 from Baa2 with a negative outlook.

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