Various Rating Actions Taken On Three South Africa Issuers; National Scale Ratings Removed From UCO

JOHANNESBURG (S&P Global Ratings) July 5, 2023--S&P Global Ratings said today that it has taken rating actions on the South Africa national scale ratings on three infrastructure companies. We removed the under criteria observation (UCO) identifier from all the national scale ratings affected. Specifically, we: Raised to 'zaAA+' from 'zaAA' our long-term ratings on MTN Group Ltd. and its subsidiary Mobile Telephone Networks Holdings Ltd. (MTN Holdings); and Lowered to 'zaAA-' from 'zaAA' our long-term rating and affirmed at 'zaA-1+' our short-term rating on Transnet SOC Ltd. The rating actions follow the publication of our revised criteria for determining national and regional scale mapping specifications and assigning credit ratings mapped from global to national scale (see "General Criteria: National And

...July 5, 2023 JOHANNESBURG (S&P Global Ratings) July 5, 2023--S&P Global Ratings said today that it has taken rating actions on the South Africa national scale ratings on three infrastructure companies. We removed the under criteria observation (UCO) identifier from all the national scale ratings affected. Specifically, we: - Raised to 'zaAA+' from 'zaAA' our long-term ratings on MTN Group Ltd. and its subsidiary Mobile Telephone Networks Holdings Ltd. (MTN Holdings); and - Lowered to 'zaAA-' from 'zaAA' our long-term rating and affirmed at 'zaA-1+' our short-term rating on Transnet SOC Ltd. The rating actions follow the publication of our revised criteria for determining national and regional scale mapping specifications and assigning credit ratings mapped from global to national scale (see "General Criteria: National And Regional Scale Credit Ratings Methodology," published June 8, 2023, on RatingsDirect). Our national scale ratings express our opinion of the creditworthiness of an issuer...

Ratings Action