Credit rating agency Moody’s says while SA’s credit profile is “resilient to shocks” that support its investment-grade rating, the country’s credit profile is likely to continue to erode. South Africa faces weak long-term growth despite its favourable government debt structure, it said. Moody’s is the only international credit rating agency[…]
Cape Town would need between R8bn and R12bn over the next five years for water and sanitation infrastructure to deal with its water crisis properly and avoid future water supply crises, according to a report released by Moody’s Investors Service on Monday. The money needed would, therefore, be 95% more[…]
International retailer Steinhoff has been downgraded by rating agency Moody’s. The rating agency downgraded Steinhoff to Caa1 corporate family rating which indicates high credit risk. The furniture retailer has 40 different brands in 40 countries. Steinhoff’s share price dropped more than 90% after its CEO reigned in December. It announced[…]
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,[…]
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