2 days ago
South Africa Approves $5.3 Billion Guarantees for Transnet Debt
South Africa's government approved 94.8 billion rand ($5.3 billion) in guarantees to further support state-owned rail and port operator Transnet SOC Ltd.
The allocation includes 48.6 billion rand to ensure all of the company's debt redemptions will be covered over the next five years, the Department of Transport said in a statement on Sunday. The other 46.2 billion rand is to mitigate the risks of credit-ratings downgrades on Transnet's debt.
