S&P corrects Transnet notes to BBB+

Standard & Poor's said it corrected an administrative error relating to its foreign-currency rating on the $2 billion global medium-term note program issued by Transnet Ltd. (foreign-currency BBB+/negative/, local-currency A/stable/, South African national scale zaAA+//zaA-1).

The analyst incorrectly applied Transnet's A preliminary local-currency senior unsecured debt rating to its GMTN program rather than Transnet's BBB+ preliminary foreign-currency senior unsecured debt rating, according to the agency.

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