Moody’s Leave Credit Rating Unchanged
International ratings agency Moody’s were recently due to announce an updated rating for SA’s Credit Status (Foreign Currency & Rand Denominated Debt) but decided not to do so at the end of last week.
‘ just one notch above “junk”‘
Two months ago, Moody’s decided to cut SA’s credit rating to just one notch above “junk” or don’t invest status. There was fear that the rating would drop this month. In something of a surprise move, Moody’s decided not to release a new ratings review after what can only be described as a politically busy week. The reason they have given is that the country has not had any significant events which would warrant a review.
This week will see Moody’s (in theory at least) release a credit opinion which assesses SA’s economic outlook.
Ratings Agencies Hold Off on Further Downgrade Ratings agencies Standard & Poor’s and Fitch have both held off on lowering SA’s long-term foreign and local currency issuer default rating any further. It can basically be summed up this way: Foreign Currency … read more
How Is The “Junk” Status Rating Going To Affect Your Pocket? Recently due to (among other factors involving Eskom) some sudden political manoeuvring, the various international ratings agencies downgraded SA’s Sovereign debt and credit rating to “Junk” Status. This basically … read more
S&P Declare SA Sovereign Credit Rating To Be Junk The excitement of the midnight political reshuffling of Cabinet at the beginning of April has only just begun, as S&P Global Ratings Agency also held an emergency meeting and decided to … read more
Fitch Keep SA Rating As Stable Ratings Agency Fitch Ratings has followed suit with Moodys and S&P in maintaining their rating of SA’s Foreign currency rating. At present Fitch has SA’s Foreign Currency Rating at BBB (which is still a…OK … read more