Reprieve for Rand as South Africa Dodges 'Junk' Rating
The rand has made strong gains against the dollar after avoiding a "junk status" credit rating from Moody's Investors Service. The Baa3 rating - the lowest category in the investment-grade stable - puts South Africa close to receiving a third non-investible grade after receiving downgrades from agencies Standard & Poor's and Fitch in 2017.
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South Africa:
Moody's Message As 'Junk' Status Looms for SA - It's the Politics, Stupid
Daily Maverick, 3 November 2019
Rating agency Moody's, as expected, downgraded its outlook for South Africa's last investment-grade credit rating to 'negative' late on Friday, bringing its descent into complete… Read more »
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South Africa:
Rating Cloud - South Africa's Date With Destiny
Daily Maverick, 31 October 2019
Whatever the outcome, it should be noted that the date of 1 November 2019, when Moody's reviews SA's sovereign credit rating, is not an ad hoc event, but rather a European legal… Read more »
InFocus
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'BB+' - Ratings agency Fitch has decided not to downrank the country further into junk status. By doing so it gives the government an opportunity to address issues that can ... Read more »
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If businesses want a healthier economy, they need to look at what they can change as well as what the government can fix, writes Steven Friedman for The Conversation South Africa. Read more »
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Ratings Agency Moody's has downgraded several firms including telecommunications giant MTN and Africa's biggest energy firm Eskom. Read more »
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In the lead-up to S&P Global Ratings' announcement, there had been widespread fears of a downgrade which would have reduced the country's ratings to junk status. Read more »