Fitch lowers views of four Namibian companies

Fitch Ratings said it revised the outlooks on four Namibian companies to negative from stable.

The actions follow the outlook revision on Namibia to negative.

The rating linkages between Namibia Power Corp. (NamPower) and Namibia Water Corp. (NamWater) with the Namibian state remain strong, Fitch said.

NamPower's and NamWater's standalone credit profile of BBB- drives the ratings, but the outlooks are capped by the Namibian sovereign, the agency said.

Fitch said it applies its government-related entity criteria to Telecom Namibia's ratings, which are notched down one level from Namibia sovereign's ratings.

The ratings of Namibian Ports Authority (NamPorts) are equalized to those of the Namibian sovereign, the agency added.

All four companies now carry a negative outlook.

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