Fitch: No change for Impala Platinum

Fitch Ratings said the ratings and outlook of Impala Platinum Holdings Ltd. are unaffected by the change in the Republic of South Africa's sovereign long-term foreign-currency issuer default rating outlook to negative from stable. The company's long-term foreign-currency rating is affirmed at BBB+, short-term foreign-currency issuer default rating at F2, national long-term rating at AA(zaf) and national short-term rating at F1+(zaf).

The outlook is stable.

The affirmation reflects a belief that Impala's substantial foreign-currency receipts should enable it to continue to service its foreign-currency obligations in the scenario of a sovereign debt crisis, Fitch said, and that it is unlikely to be prevented from doing so by sovereign-imposed controls.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.