Moody’s acts on five South African corporates

Moody's Investors Service said it downgraded the senior unsecured ratings to Baa3 from Baa2 and changed the outlook to negative from ratings under review of Transnet SOC Ltd.

The agency affirmed the Baa3 long-term issuer ratings of Imperial Group Ltd. and Redefine Properties Ltd. and changed the outlook to negative from stable.

Moody's affirmed the Baa3 long-term issuer rating of Naspers Ltd. and maintained the stable outlook.

The respective national scale ratings assigned to these corporates as well as Anglo American SA Finance Ltd. were affected by the revised national scale mapping table for South Africa.

Moody’s said the actions follow the weakening of the South African government's credit profile, as captured by the similar rating action on the sovereign rating on June 9.

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