Moody’s trims Kagiso Tiso

Moody's Investors Service said it downgraded Kagiso Tiso Holdings Pty. Ltd.'s corporate family rating to Ba3 from Ba2, the national scale corporate family rating to Baa1.za from A2.za and the national short-term issuer rating to P-2.za from P-1.za.

The outlook was changed to negative from stable.

The agency said the action reflects Moody's assessment that the business profile and liquidity of Kagiso have deteriorated over time.

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