Ratings agency S&P Global Ratings says it anticipates strong earnings in Sasol's fuels segment, thanks to strong Brent crude oil prices, to offset the near-term headwinds in its chemical segments and allow the company to generate FFO-to-debt above 45% on average. S&P has therefore raised its long-term issuer credit rating and issue rating on Sasol and its debt to 'BB+' from 'BB' and affirmed its 'B' short-term rating. The stable outlook reflects that recent debt reduction and supportive oil prices will offset near-term headwinds and allow Sasol to maintain FFO to debt above 45% on average in the coming years. The improvement in credit metrics is supported by a gross debt reduction using asset disposal proceeds, improvements in operating efficiency, and supportive market conditions, S&P indicates.