Tag: credit rating
As global tensions are on the rise and a Moody’s credit rating downgrade looms on South Africa – Maarten Ackerman, Chief Economist and Advisory Partner at Citadel joins CNBC Africa for an investors’ guide to 2020.
The launch of a smartphone manufacturing plant, introduction of electric cars, a logistics facility and an upgrade of the country's credit rating were some of the defining moments in Rwanda's economy this year. Economic Analyst, Ted Kaberuka joins CNBC Africa for more.
South Africa faces a prolonged period of weak economic growth marked by rising unemployment, inequality and greater credit-rating risk if the government does not act fast to implement reforms.
South Africa’s rand firmed on Friday as an unexpected bounce in Chinese factory activity helped offset concerns over prospects of a U.S.-China trade pact and skittishness ahead of a long-awaited decision on South Africa’s credit rating.
South Africa’s state power utility Eskom urgently needs a turnaround plan as its capital structure is unsustainable, credit ratings agency Moody’s said on Tuesday in a report which sent the rand lower.
Ratings agency Fitch on Friday affirmed South Africa’s credit rating at ‘BB+’, in sub-investment grade, but downgraded the outlook from stable to negative.
International credit rating agencies have had their fair share of controversies over the years. They have been at the centre of the major financial crises.
After the much anticipated Moody’s credit rating on South Africa being reprieved last week Friday, Yesterday they released a credit opinion on South Africa. Moody’s has relieved the country as they have left the rating at Baa3 with a stable outlook. Although the credit opinion does not constitute a rating action, this saw a positive push to the rand and other South African sectors. ABSA Senior Economist, Peter Worthington joins CNBC Africa for more.
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