TELKOM SA SOC LIMITED - Moody's downgrades Telkom's credit rating following sovereign rating action
Moody's downgrades Telkom's credit rating following sovereign rating action
Telkom SA SOC Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/005476/30)
JSE Bond Code: BITEL
JSE Share Code: TKG
ISIN ZAE000044897
(“Telkom” or the “Company”)
MOODY’S DOWNGRADES TELKOM’S CREDIT RATING FOLLOWING SOVEREIGN RATING ACTION
Moody’s Investors Service (“Moody’s”) has downgraded Telkom’s corporate family rating to Ba2 from
Ba1 with a negative outlook.
The rating downgrade is a direct consequence of the rating action Moody’s took on 20 November
2020, to downgrade the South African sovereign rating by one notch to Ba2 with a negative outlook.
Telkom’s operations and revenues are concentrated in South Africa, and as a result its credit rating is
highly correlated to the country’s economic environment.
Moody’s notes the Company’s strong credit metrics and good liquidity and will monitor Telkom’s
performance given the prevailing economic conditions.
Moody's also assigned a corporate family national scale rating (NSR) of Aa1.za.
27 November 2020
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 27-11-2020 12:21:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
