Moody’s downgrades Consolidated Infrastructure

Moody's Investors Service said it downgraded Consolidated Infrastructure Group Ltd.’s long-term corporate family rating to Ba3 from Ba2 and long- and short-term national scale ratings to Baa1.za and P-2.za from A1.za and P-1.za.

Additionally, the short-term issuer rating was affirmed at Not Prime, following the trading announcements from the company indicating weak trading performance for the full year ending Aug. 31, which in Moody's view will have a negative impact on its current credit metrics beyond expectations for the Ba2 rating.

The ratings are under review for further downgrade.

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