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standard and poor’s

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.
05 Apr 2017

S&P’s downgrade deals severe blow to South Africa’s inclusive growth and economic transformation

By Janice Roberts

Standard & Poor’s downgrade of South Africa’s global credit rating to junk status is the unfortunate consequence of a complete reversal in Government’s governance and macroeconomic management strategy implemented since 1994 to stabilise the country’s fiscus. This is according to the Association for Savings and Investment South Africa (ASISA).
05 Apr 2017

Implications of junk status for SA investors

By Janice Roberts

Ratings agencies have different approaches to assessing the debt issued by the National Treasury in domestic and local currency. To fund government expenditure, Treasury borrows in local currency (90% of total outstanding stock) or in foreign currency (10%) in international markets. In other words, the so-called junk status relates to 10% of total debt issued...
04 Apr 2017

A 'grim day' for the property market

By Janice Roberts

With consumer and business confidence already at low levels, South Africa’s downgrade to junk status by S&P Global last night will put more pressure on the economy as a whole sending it further into negative territory, with a natural ripple effect on the residential property market. This is according to Francois Venter, Director at Jawitz Properties....

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