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Moody's rates National Roads Agency A3
Moody's Investors Service said it assigned global scale issuer ratings of A3 (long-term) and prime-2 (short-term) to the South African National Roads Agency Ltd., in line with the sovereign rating.
The outlook is stable.
This is the first time that Moody's said it assigned global scale ratings to a sub-sovereign issuer in South Africa.
The ratings are underpinned by the company's public legal status, its key role for and close financial links with the central government, the agency said.
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