April 7, 2017 / 12:23 PM / 7 months ago

BRIEF-Transnet SOC says well positioned to withstand downgrade

April 7 (Reuters) - Transnet SOC Ltd

* Transnet well positioned to withstand downgrade

* Adequate liquidity levels will enable it to pursue its funding plan

* S&P has reviewed co’s long-term foreign currency sovereign credit rating to ‘BB+’ from ‘BBB-', long-term local currency rating to ‘BBB-’ from ‘BBB’

* Ratings agency said outlook for state-owned company was in line with its assessment of sovereign rating

* S&P however, maintained transnet’s stand-alone credit profile at ‘BBB’

* Transnet continues to raise funds on strength of its own balance sheet and receives no funding or guarantees from national government

* S&P said Transnet’s liquidity remains adequate Further company coverage:

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