Moody’s cuts Hyprop Investments

Moody’s Investors Service said it downgraded Hyprop Investments Ltd.’s corporate family rating to Ba2 from Ba1. Moody’s also downgraded the long-term national scale rating to A1.za from Aa3.za.

The agency placed the ratings on review for downgrade.

The downgrade mirrors the view that Hyprop’s liquidity is weakening given the current level of debt maturing in the next 12-18 months, in the context of a challenging operating environment and dislocated credit markets, Moody’s said.

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