Moody's assigns Transnet national ratings

Moody's Investors Service said it assigned various national scale ratings to Transnet Ltd.'s ZAR 30 billion domestic medium-term note program, including a senior unsecured long-term rating of Aa2.za, senior unsecured short-term rating of prime-1.za and a subordinated long-term rating of Aa3.za.

The outlook is stable.

Moody's said its national scale ratings are not globally comparable, but address credit risk among debt issues and issuers within a country, enabling market participants to better differentiate relative risks.

In August, Moody's assigned global scale ratings to Transnet's program. Those ratings include a senior unsecured long-term rating of proposed A2, senior unsecured short term rating or proposed prime-1 and subordinated long-term rating of proposed A3.

The ratings consider the company's underlying strength reflecting its strategic focus as an increasingly commercially-focused transportation conglomerate, Moody's said.

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