Moody’s rates Barloworld Baa3/Aa3.za

Moody's Investors Service said it assigned Barloworld Ltd. long-term and short-term issuer global scale ratings of Baa3 and P-3 and long-term and short-term national scale ratings of Aa3.za and P-1.za.

The outlook is stable.

"The Baa3/Aa3.za issuer ratings recognise Barloworld's leading competitive market positions, supported by strong brand offerings and stable long term relationships with its principal suppliers," Dion Bate, Moody's vice president senior analyst and lead analyst for Barloworld, said in a news release.

"The ratings also consider Barloworld's diversified product mix and its resilient business model, whereby its integrated after sales support segments are able to soften the impact from the decline in new equipment and vehicle sales during cyclical downturns."

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