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PPC downgrade warning hits stock – Business Day

PPC downgrade warning hits stock – Business Day

PPC, SA’s biggest cement producer, warned on Monday of a credit rating downgrade and said it was in the advanced stages of a capital raising exercise for up to R4 billion. The capital raise would reduce current debt levels and fund existing investment projects. Gross group debt was set to rise to between R10 billion and R12 billion in the next few years. ¬†Victor Seanie comments.
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