Tolls delay may hit Sanral rating : Fin24

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The_Unbeliever

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http://www.fin24.com/Economy/Tolls-delay-may-hit-Sanral-rating-20120119

Johannesburg - Moody's Investors Service has placed the AAA long-term rating of the South African National Roads Agency Limited (Sanral) on review for possible downgrade.

"Today's announcement follows the decision by Sanral's board of directors to delay the tolling operations of the company's largest project - the Gauteng Freeway Improvement Project (GFIP), which will likely exert pressure on the company's cash flows and casts doubt on the government's transport policy strategy," said Kenneth Morare, Moody's lead analyst for Sanral.
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It's a slippery slope...
 
"Moody's notes that Sanral incurred R20bn in debt (of which approximately 50% is guaranteed by the South African government) to finance the GFIP project, which was to have been repaid from the now-suspended toll revenues," it said.
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Just beautiful. :wtf: Damned if we do and damned if we don't although still not buying an e-tag :twisted:
 
Rate them a DDD(-) thus preventing them from any access to credit.

There is no ways it cost 20 billion to add a single lane to those highways unless the enginees confused cement with platinum.
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LOL at this comment.
 
Johannesburg - Moody's Investors Service has placed the AAA long-term rating of the South African National Roads Agency Limited (Sanral) on review for possible downgrade.
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Soon to be FFF.
 
This, people, is why you do studies and research BEFORE building multi-billion rand projects intended to be cash cows to see if they will be acceptable, not after.
 
ah, die wet van dalende meer opbrengs! Oversupply and go down bitches!
 
bugger Moody's who cares

bugger SANRAL, I'm not paying them a cent
 
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