Telkom suffers rating loss

Telkom’s long-term issuer credit rating has been downgraded by BB from BB+ by Standard and Poor´s (S&P) following the downgrade of the sovereign’s rating.

The South Africa-based telecommunications provider has been pulled down, following the downgrade of the sovereign’s long-term foreign currency ratings to BB- from BB. This is on concerns of the impact of the coronavirus disease 2019 (COVID-19) crisis on already weak economic growth metrics.

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