Airport company lands improved rating

Credit rating firm Moody’s has announced that it has raised its rating of state-owned  Airports Company South Africa (ACSA).

Moody’s announced that the new rating is due to a recovery in activity in the sector, expectations of significant tariff increases and a better debt picture.

The change improves Acsa’s outlook from negative to stable and affirmed its Ba2.za rating, Moody’s said.