Ratings agency Standard and Poor’s has kept the country’s credit rating at junk status. It says South Africa continues to face economic growth challenges. But, it acknowledges government’s efforts to foster economic and social reform. S&P held its credit rating on rand-denominated government bonds at one tier junk status, BB+[…]
Moody’s Investor Services has downgraded power utility Eskom’s credit ratings, this just a day after announcing a downgrade of South Africa’s five major banks. In a statement on Wednesday morning, Eskom announced that Moody’s had downgraded the corporate family rating (CFR) of Eskom Holdings SOC Limited (Eskom) to Ba2 from[…]
The City of Cape Town has maintained the highest possible credit rating opinion from the ratings agency Moody’s. This rating follows closely after the City received its 13 consecutive unqualified audit report. The rating means that the City has the highest possible level of credit quality within the national context,[…]
S&P Global has lowered MTN Group’s [JSE:MTN] credit rating amid Nigeria’s recent downgrade, sparking more challenges for the mobile network in the West African country. Last month, S&P lowered its long-term ratings on Nigeria to ‘B’ from ‘B+’ amid weak growth dynamics in that country. S&P, though, said that the outlook[…]
South African Finance Minister Pravin Gordhan met with top business leaders last Friday to discuss steps to boost investor support and avert a credit rating downgrade sparked by SA domestic challenges. About 60 chief executive officers representing industries ranging from banking to mining met with Gordhan for two-and-a-half hours at Nedbank’s offices in[…]
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