Business: SANRAL Assigned Global Scale Ratings
Recent Gauteng Business News
In its report, Moody’s indicated that Toll roads will play a pivotal role in SANRAL’s expansion strategy. In addition, SANRAL’s good track record in past projects, established traffic patterns and ultimate backing of the central government provide comfort with regard to the long-term sustainability of projects and the company’s ability to meet its obligations.
Further Moody’s stated that it views the Public Private Partnerships (PPP) that SANRAL is involved in as low risk, as these build-operate-transfer (BOT) contracts transfer operational risks, including construction and funding, to third parties.
“SANRAL's ratings, assigned by Moody's, are a testament to SANRAL's credible track record on performance on projects and the ability to maintain investor confidence. We express our thanks to all investors and look forward to their continued support. SANRAL aims to reduce its cost of borrowing as it embarks on large road projects like the Gauteng Freeway Improvement Project. With this global rating SANRAL endeavours to widen its investor pool beyond South Africa’s borders,” said Mr Nazir Alli, CEO SANRAL.
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