Moody's ups Imperial view to stable

Moody's Investors Service said it affirmed Imperial Group (Pty) Ltd.'s long-term issuer rating at Baa3, along with other related global-scale debt ratings. Moody's also said it upgraded Imperial's long-term national-scale issuer ratings and senior unsecured issue ratings to A2.za from A3.za, along with Imperial Capital Ltd.'s national-scale domestic medium-term note program long-term rating to A1.za from A2.za. Moody's affirmed Imperial and Imperial Capital's short-term national-scale ratings of P-1.za.

The outlook was changed to stable from negative

The upgrades reflect the company's stronger performance than anticipated through the successful execution of its business divestiture program, the agency said.

Despite lower trading volumes and less availability of consumer credit for motor vehicle financing, the company also said it delivered stronger than expected operating results, Moody's added.

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