S&P: Savcio on developing watch

Standard & Poor's said it placed the B+ long-term corporate credit rating on Savcio Holdings (Proprietary) Ltd. on CreditWatch with developing implications.

The shareholders of Savcio announced that they entered into a binding sale of shares agreement with Actom (Proprietary) Ltd. to sell the entire issued share capital of Savcio to Actom for an undisclosed amount, S&P said.

The transaction remains subject to a number of conditions, including regulatory approvals, the agency said.

S&P said it views the impact of this transaction as uncertain, given the lack of information.

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