PPC Plunges After S&P Cuts Rating, Raises Liquidity Concerns

Updated on
  • Ratings agency cites debt-to-earnings ratio, expansion plans
  • PPC says it will accelerate, strengthen capital raising plan

PPC Ltd. shares dropped to a 13-year low after the South African cement maker said it would accelerate a plan to raise funds following a credit-rating cut by S&P Global Ratings, which warned of a possible liquidity squeeze.

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