CA-Ratings has upgraded the existing credit rating assigned to Mustek Limited. The rating, on the national scale for SA, has been upgraded from the zaBB+ awarded in October 2001 to zaBBB-. It has a stable outlook for the three-year time horizon.
The new rating symbol indicates that Mustek is now viewed to be just above the cusp termed investment grade in credit terms on the SA national scale.
A SENS statement issued today says compared to other companies listed on the JSE Securities Exchange, Mustek has now moved to above the median position, which means that the number of companies with a credit strength above it is smaller than the number of companies with a credit strength below it.
The statement says Mustek remains the first and only IT company in SA to be rated on a solicited basis and to make its rating known publicly.
CA-Ratings is the sole African affiliate of Standard & Poor`s, the world`s largest ratings agency.
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