SANRAL has been assigned with global scale issuer ratings, with stable outlook, of A3 (long term) and Prime-2 (short term) by Moody’s investor Service. This is the first time that Moody’s has assigned global scale ratings to a sub-sovereign issuer in South Africa. In addition, SANRAL has a national scale rating of Aa2.za/P-1.za with stable outlook.
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.