Sanral boss Nazir Alli pleaded with Gauteng Premier David Makhura and his panel on e-tolling yesterday to help the roads agency restore investor confidence in its financial viability.
Alli made the plea as fears grew that Sanral might be in line for another credit downgrading, something that would relegate its stock to junk status.
A default by the agency on its loan repayments would be perilous for the entire economy, said Alli.
"If we get another credit downgrade the cost of borrowing will just continue to increase."
He made the plea as Sanral revealed that it was saddled with finance charges of R3.3-billion this year.
The agency borrowed R20-billion to fund the first phase of the Gauteng Freeway Improvement Project.
Repayment on this loan has been hampered by the refusal of many motorists to pay e-tolls.
As of September, R1.5-billion in fees had still not been paid, forcing Sanral to rely on bonds to raise funds.
Alli said "external forces" were making it difficult for the agency to raise money.
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