ratings agency

Ratings agency Moody’s downgrades Steinhoff

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[…]

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All eyes on GDP and ratings agency Fitch

Economists expect a negative GDP reading for the first quarter of 2016, while ratings agency Fitch should follow Moody’s and Standard Poor’s and not downgrade SA to junk status. Many economists expect a negative gross domestic product (GDP) reading when Statistics SA announces the figures for the first quarter of[…]

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