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Moody’s has placed Transnet’s credit rating on review for a possible downgrade

# Ratings agency Moody’s has placed Transnet’s credit ratings on review for a downgrade as a result of the state-owned entity’s worsening financial stability. Transnet has debt maturities of about ten-billion-rand from December to March next year. These include the 4.6-billion-rand short-term bond that was rolled over by the Public Investment Corporation. Repayment is now due in March next year. Moody’s says it understands the entity is working on several new financing initiatives, but believes it will become increasingly difficult to access new financing without government support.