# Business Leadership South Africa has expressed disappointment with Standard & Poor’s decision to downgrade Transnet’s credit rating. The ratings agency made its conclusion based on Transnet’s significant debt and negative operating cash flow. The organisation claims the rating is a result of years of weak leadership, union militancy, and government bailouts. CEO Busisiwe Mavuso says Transnet is seemingly resisting change and moving too slowly. This compares to Eskom, which has been able to stabilise its operating performance and is pushing forward with fundamental reforms.
Business Leadership SA is disappointed with the downgrade of Transnet