PPC's share price falls after credit downgrade warning

JSE-listed PPC's share price on the JSE fell by as much as 19.9% on Monday as the company warned of a possible downgrade of its debt rating. The company on Monday said it planned to raise between R3-billion and R4-billion in capital to reduce its debt and fund existing committed expansion capital expenditure and investment projects. It would reveal the terms of the capital raise when it publishes its 2016 financial results on June 14.