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28 Mar 2020

Moody’s decision to cut SA credit rating to junk 'expected'

By Janice Roberts

Moody’s cut both the local and foreign currency-denominated debt from Baa3 to Ba1 and retained the negative outlook.

28 Mar 2020

BUSA notes Moody's decision 'with dismay'

By Janice Roberts

Business Unity SA (BUSA) notes with dismay the decision by Moody’s Investors Service to downgrade SA to “junk status”.

28 Mar 2020

Moody's downgrades SA's ratings to Ba1, maintains negative outlook

By Janice Roberts

Moody's Investors Service last night downgraded the Government of South Africa's long-term foreign-currency and local-currency issuer ratings to Ba1 from Baa3. The outlook remains negative.

07 Jan 2020

Investors’ guide to 2020: Markets upbeat, but storm clouds gathering

By Janice Roberts

By Maarten Ackerman, Chief Economist and Advisory Partner, Citadel. Despite various geopolitical and economic challenges at the beginning of 2019, markets managed to deliver very strong returns for the year. And investors will be relieved to see that equity markets look set to start 2020 on a slightly better footing, as many of these uncertainties...
02 Nov 2019

Moody's changes SA's outlook to negative, affirms Baa3 ratings

By Janice Roberts

Moody’s Investors Service last night changed the outlook on the Government of South Africa’s ratings to negative from stable and affirmed the Baa3 long-term foreign-currency and local-currency issuer ratings.
28 Mar 2019

Moody's: "Rating likely to remain unchanged"

By Janice Roberts

By Sanisha Packirisamy, Chief Economist at Momentum Investments We are expecting a downgrade in the outlook from stable to negative, but the rating, in our view, is likely to remain unchanged. Moody’s noted that the breach in the expenditure ceiling was viewed as a once-off and acknowledged that outside of the additional allocation to Eskom,...
28 Mar 2019

South Africans suffering from the Moody’s blues

By Janice Roberts

South Africans are waiting expectantly for a credit rating announcement from Moody’s Investor Service, the only credit rating agency yet to downgrade the country to junk status.  Whether this will happen on Friday is anyone’s guess, and even economists are divided as to whether junk is on the cards or not.   Having adopted a cautiously...
28 Nov 2017

Getting fiscal 'mix' right in Feb 2018 Budget a major determinant of investment status

By Janice Roberts

Credibility and confidence in economic policy will be key factors in evaluating the latest fiscal response to recent credit rating agency decisions.  That’s the word from NWU School of Business and Governance Economist, Professor Raymond Parsons. “The decision by President Jacob Zuma to instruct the Presidential Fiscal Committee to actively tackle four key areas of...
27 Nov 2017

Minister of Finance convenes Budget Council Lekgotla

By Janice Roberts

The Minister of Finance, Malusi Gigaba, convened a Budget Council Lekgotla today, he said in a statement. “The main objective of the meeting is for government counterparts to learn from one another on best practices and processes that need to be in place to ensure a coordinated approach towards the inclusive economic growth agenda. “The...
26 Nov 2017

Nedbank 'disappointed' by S&P's downgrade of SA’s local currency sovereign debt

By Janice Roberts

Nedbank is “disappointed” by S&P Global’s decision to downgrade South Africa’s local currency sovereign debt ahead of key events such as the ANC’s elective conference in December and the national budget in February next year. While Nedbank welcome Moody’s decision to maintain its investment-grade rating of South Africa’s government debt for now, it notes its...
26 Nov 2017

S&P and Moody's send strong message to SA

By Janice Roberts

The latest decisions by S & P Global Ratings and Moody’s on SA’s investment rating, although less severe than widely expected, nonetheless send another strong message to SA to get its house in order sooner rather than later. This is according to NWU School of Business and Governance Economist, Professor Raymond Parsons.
10 Jun 2017

Moody's downgrades SA to Baa3 and assigns negative outlook

By Janice Roberts

Moody’s Investors Service, late last night, downgraded the long-term issuer and senior unsecured ratings of the Government of South Africa to Baa3 from Baa2 as well as the senior unsecured Shelf and MTN program ratings to (P)Baa3 from (P)Baa2, and assigned a negative outlook.