S&P Global Ratings has upgraded its long-term South Africa national scale rating on cement producer, PPC. The company is now rated zaA from zaBBB.
“The investment grade rating reflects S&P’s view that PPC’s underlying credit metrics are broadly stable,” the company said in a release to the Johannesburg Stock Exchange. “In particular, S&P regards PPC as having adequate liquidity.”
S&P also removed the ‘under criteria observation’ designation from PPC’s short-tern South Africa national scale rating.
“The ratings upgrade demonstrates the impact of the financial disciplines and strategic measures PPC has introduced to improve the group’s liquidity and reduce leverage as outlined in the group’s FOH-FOUR strategic priorities,” concluded the company.
Read the article online at: https://www.worldcement.com/africa-middle-east/05072018/ppc-achieves-investment-grade-rating/
WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.
World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.
Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.
The cement industry has recently recognised Roanoke Cement Company (RCC) with top honours for Outreach in the 2020 Portland Cement Association (PCA) Cement Industry Energy and Environment Awards.
