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SA Downgrade

Rand hits record low, goes over 19 to dollar as Fitch downgrades SA further into junk status

Last Friday Moody’s, the last rating agency to rate South Africa investment grade, cut South Africa’s sovereign credit rating to junk in line with economists’ forecast. Today Fitch further downgraded the country sending the rand plunging over 19 rand to the dollar. Below it gives its reasons...

South Africa looks to structural reforms as it loses its last investment-grade credit rating

By: Elliot Smith KEY POINTS South Africa now has no investment-grade sovereign credit rating...

Government’s response to Moody’s downgrade of SA to junk status

Covid-19 and South Africa's downgrade to junk will truly test South African financial markets.

Moody’s downgrades SA to junk

The action will result in South Africa's expulsion from the World Government Bond Index (WGBI), as a consequence those funds tracking this index as a benchmark will become forced sellers.

Moody’s maintains South Africa’s rating at investment grade

Moody's is the last of the big three ratings agencies to have South Africa in investment grade.

Moody’s decides: Has a downgrade to junk already been priced in?

Moody’s is the only rating agency that has not downgraded South Africa to sub-investment grade, will this change?

Fitch Ratings keeps South Africa at junk status

South Africa's ratings are weighed down by low growth potential, sizeable government debt and contingent liabilities and the risk of rising social tensions due to extremely high inequality.

S&P raises growth outlook for South Africa

New leadership and ensuing policy announcements have boosted local and foreign investor confidence in South Africa, but structural challenges remain, warns S&P.

South Africa’s Zuma calls for action after S&P downgrade, rand up on Moody’s reprieve

South African President Jacob Zuma called for concrete measures to boost growth after S&P Global Ratings downgraded the local currency debt to sub-investment grade,...

South Africa to outline “decisive” policy in 2018 after debt rating cut

South Africa will use its annual budget next year to outline “decisive” policy to strengthen its fiscal framework, the finance ministry said on Saturday...

S&P downgrades SA’s local debt to junk, Moody’s places it on review for downgrade

Standard & Poor’s has downgraded South Africa's local currency debt to junk and lowered its rating on debt denominated in foreign currency to BB...

SA’s $8bn problem if local debt is downgraded

Two of the primary global credit rating agencies (Standard & Poor’s and Moody’s) are due to announce the outcomes of their review of the...

Has the resignation of Zimbabwe’s President Mugabe put SA’s downgrade on hold?

Dr Conrad Beyers, Barclays Africa Chair in Actuarial Science at the University of Pretoria explains why he believes this to be the case.

South Africa’s downgrading is no longer an “if” but a “when” – Citadel

Both S&P and Moody’s have reviews scheduled for 24 November.

South Africa considers privatization to counter recession

South Africa Finance Minister Malusi Gigaba laid out an ambitious 14-point program on Thursday to wrench the economy out of recession that included the...

Zuma says South Africa to leave recession “quicker than we believe”

CAPE TOWN (Reuters) - South African President Jacob Zuma told parliament on Thursday the economy would come out of recession "quicker than we believe",...

South Africa’s fiscal policy framework on track: cabinet

South Africa's government is maintaining its fiscal policy framework and is taking "systematic interventions" to address the country's economic challenges in the wake of...

South Africa’s credibility on the line with foreign bond investors

Olivia Kumwenda-Mtambo and Sujata Rao A row over central bank independence could worsen South Africa's bond sell-off after foreign investors last week dumped the biggest...

South African lawmakers get proposal to change central bank’s role

CAPE TOWN (Reuters) - South Africa's parliament said it had received a request from the Public Protector's office that the central bank's constitutional mandate...

‘With inflation falling and growth collapsing it is time to cut interest rates’

Now the time for the SARB to take the lead and make a bold, but correct step by cutting rates.

Fitch says South Africa’s new mining rules may deter investment

Fitch Ratings agency said on Monday that new regulations seeking to accelerate black ownership in South Africa's mining industry would deter investment.

S.Africa’s cenbank governor: currency, price stability aims are supportive of growth

The South African Reserve Bank's mandate to keep inflation low and protect the value of the currency is supportive of economic growth.

S.Africa’s rand weakens 1.5 pct after watchdog comments over cenbank

South Africa's rand fell more than 1.5 percent on Monday after Public Protector Busisiwe Mkhwebane recommended changes to the constitution.

South Africa’s low business confidence setback to growth recovery: Moody’s

The steep decline in South Africa's business confidence is a setback to economic growth recovery and will dampen investment.

South Africa’s Gigaba says will make further budget cuts as recession bites

South Africa's Finance Minister Malusi Gigaba said on Thursday the Treasury was looking into possibilities for further cuts in government spending.

South African credit regulator sees rise in impairments amid recession

South Africa could see a spike in bad loans as the first recession since 2009 hits millions.

Moody’s downgrades South Africa’s power utility Eskom

Ratings agency Moody's Investors Service downgraded South Africa's state-owned utility Eskom.

Moody’s downgrades the five largest South African banks to Baa3; outlook negative

Moody's downgrades the five largest South African banks to Baa3; outlook negative.

For South Africans, economic pain hit long before recession

Chronic unemployment and lofty inflation have shattered consumer confidence.

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