State-owned Airports Company South Africa (Acsa) has stated that it “notes” the recent decision by ratings agency Moody’s Investor Service to down grade Acsa’s ratings and to change its outlook for the airports operator from “under review” to negative. Acsa, however, has also reported success in securing funding and strengthening its liquidity. Moody’s downgraded Acsa’s corporate family rating from Ba1 to Ba2. It also downgraded Acsa’s national scale rating from Aa2 to Aa3. These downgrades followed a review of the airports company by the ratings agency, which the latter started on March 31.
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