S&P Also Change SA’s Credit Rating Outlook
Standard & Poor’s Rating Agency Adjust Their SA Credit Outlook
Standard & Poor’s Rating Agency (S&P) have followed suit with Moody’s and adjusted their outlook for SA’s credit rating from stable (neither positive or negative) to positive.
What Does That Mean?
It means that, having looked at all the current circumstances, they feel that things are looking slightly better and while they do not advise the biggest institutions from investing just yet they feel things are slowly getting better (and closer to the place where they feel that would be a ‘safe bet’).
‘Since many investment firms and individuals value these ratings it is a very positive sign’
S&P in particular see the local mining industry doing better given the ongoing conflict in Ukraine.
Since many investment firms and individuals value these ratings it is a very positive sign. It remains to be seen if this rating will survive the recent KZN flooding and Eskom loadshedding and how that will impact the economy.
S&P Long Term Foreign Currency Rating: BB –
S&P Long Term Local Currency Rating: BB