Moody's acts on South African corporates

Moody's Investors Service said it took rating actions on 10 corporates that have credit interlinkages with the South Africa sovereign. The rating actions follow Moody's decision on Friday to affirm South Africa's Ba2 government rating while changing the outlook to stable from negative.

The agency affirmed the ratings and revised the outlooks to stable from negative on the following corporates: Anglo American plc, AngloGold Ashanti Ltd., Barloworld Ltd., Gold Fields Ltd., Growthpoint Properties Ltd., MTN Group Ltd., Redefine Properties Ltd., Telkom SA SOC Ltd. and the Bidvest Group Ltd.

Moody’s also affirmed Sasol Ltd.’s ratings and changed the outlook to positive from negative. Moody’s noted Sasol’s significant improvement in cash flows and balance sheet during the last 18 months.

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