Downgrade to ‘junk’ ruins Sanral plans to borrow more

South Africa’s sovereign credit rating downgrade to “junk” is spoiling the South African National Roads Agency’s plans to borrow more money.

Sanral announced on Wednesday that it has delayed its return to the bond market amid worries that it would fail to attract investors after the downgrade.

The Money Show’s Bruce Whitfield interviewed Sanral Chief Financial Officer Inge Mulder.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

There’s just too much uncertainty at the moment.

Inge Mulder, Sanral

We’ll do an auction in May…

Inge Mulder, Sanral

It could always be worse...

Inge Mulder, Sanral

We hope there’ll be more certainty in a month’s time.

Inge Mulder, Sanral

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Article brought to us by Old Mutual.

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