Moody’s Investors Service has downgraded fixed-line operator Telkom in line with SA's recent sovereign rating downgrade.
Telkom said that as part of its rating decision, Moody’s indicated that the rating reflected the operator’s “overall strong credit metrics, which provide adequate headroom to the company's operating and competitive challenges”. He noted that Telkom has increased borrowing in recent years to fund its aggressive mobile expansion together with a R1.5bn restructuring charge for the retrenchments that are currently under way, together with a possible provision for a tax dispute of about a R1bn.
Shaun Murison, an analyst at IG Markets, said the downgrade of Telkom did not affect the share price movement of Telkom on Monday. Moody’s decision to affirm the rating is because it believes the company’s healthy credit metrics and good liquidity will help absorb the impact of the domestic macroeconomic environment’s deterioration, MTN said.
Moody's is busy.. dragging our country to the nearest hell
TelkomZA . I think bad service should also apply here. Telkom consultants behave like high school delinquents. Neither dedication nor skill whatsoever. They literally do not care
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