S&P downgrades Telkom in line with sovereign ratings
Ratings agency S&P Global Ratings (S&P) has revised JSE-listed Telkom’s long-term issuer rating in line with the sovereign ratings downgrade in April.
Telkom, which is viewed as a government-related entity, has been revised downwards from BB+ to BB, with the negative outlook revised to stable.
“This rating action follows the downgrade of South Africa’s long-term local currency rating on April 29, from BB to BB- with a stable outlook,” the company said in an update to shareholders.
This was a result of the potential impact of the Covid-19 pandemic on the fiscus and the growth outlook.
“However, the rating agency has always maintained the low likelihood of negative interventions by government.
“It also considers a moderate impact of Covid-19 on Telkom’s financial profile and recognises the company’s modest financial risk. The ascribed stable outlook also takes into account Telkom’s standalone credit profile of bbb-,” Telkom concluded.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















