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Finance Minister Tito Mboweni delivering his Supplementary Budget on 24 June 2020. Picture: GCIS

Credit ratings

Mboweni: Fitch & Moody's credit rating downgrades painful

By Ayanda Nyathi

Reacting to the news, Finance Minister Tito Mboweni said that there was an urgent need for government and its social partners to implement structural reforms to...

  • Moody's Ratings agency. Picture: Facebook.

    Moody's & Fitch downgrades push SA further into junk status

    Moody's has downgraded the country's credit rating one notch to BA2 and maintained a negative outlook, while Fitch has downgraded South Africa's credit rating from BB to BB- and with a negative outlook.

    587 days ago
  • Picture: Supplied.

    Fitch sees South African economy contracting 5.5% this year

    The ratings agency downgraded South Africa’s credit rating further into “junk” territory in April, citing the lack of a clear path towards government debt stabilisation and the expected impact of the COVID-19 shock on public finances and growth.

    749 days ago
  • FILE: The S&P Global logo is seen outside a building in Washington, DC, on 25 July 2019. Picture: AFP

    S&P downgrades SA debt to 'BB-' amid virus impact

    S&P projects the South African economy will shrink by 4.5% this year compared with the November 2019 estimate of growth of 1.6%.

    792 days ago
  • FILE: Eskom CEO André de Ruyter. Picture: Eyewitness News.

    Eskom aware load shedding may lead to credit rating downgrade for SA

    The power utility said that it understood the impact load shedding had and was working tirelessly to solve its problems.

    882 days ago
  • Picture: Facebook

    Traders, investors nervously await Moody’s rating on SA

    Moody's is the last of the three big ratings agencies to keep the country in positive territory.

    973 days ago
  • President Cyril Ramaphosa addresses the World Economic Forum Africa event at the CTICC in Cape Town on 4 September 2019. Picture: @PresidencyZA/Twitter

    SA's investment-grade rating depends on pace of reforms - Moody's

    The agency is the last of the top three ratings firms to still rank Pretoria debt at investment grade, Baa3 with a stable outlook.

    1025 days ago
  • FILE: Credit rating agency Standard & Poor's. Picture: AFP

    S&P rating decision welcomed by pundits

    Late on Friday night, the agency kept the country's sovereign credit ratings unchanged at below investment grade.

    1131 days ago
  • A ballot paper for the 2019 general elections. Picture: EWN

    Elections key to reviving SA economy, say economists

    Whichever political party wins the elections, it would need to act quickly to address persistently low growth rates, high unemployment, and an ever-widening public debt.

    1150 days ago
  • President Cyril Ramaphosa delivering the closing address at the 2019 Africa Travel Indaba. Picture : Sethembiso Zulu/EWN

    Economy will test SA's next president

    After 8 May, the president - likely to be incumbent Cyril Ramaphosa as ANC leader - will have a tough task creating jobs, attracting foreign money and tackling corruption.

    1151 days ago
  • Picture: Facebook

    Moody’s: Strength of SA's finance sector balances well against weak growth

    Moody's said that the country is still facing a few major problems, including persistently low growth and high unemployment.

    1171 days ago
  • Picture: Facebook

    Moody’s SA rating delay welcomed amid fears of weaker rand

    Economist Goolam Ballim said that the upcoming elections will be defining for South Africa's investment market depending on the outcome.

    1187 days ago
  • Picture: Facebook

    South Africa sweats ahead of Moody's credit rating decision

    Moody’s Investors Service is on Friday evening expected to make an announcement on South Africa’s credit rating.

    1190 days ago
  • Minister of Trade and Industry Rob Davies during his visit to the Hisense factory in Atlantis where a R12 million investment in TV manufacturing at the factory was announced. Picture: Cindy Archillies/EWN

    Davies hopes Moody's will cut SA some slack with credit rating

    Trade and Industry Minister Rob Davies says that he hopes that Moody's will recognise government's efforts to rebuild the economy.

    1192 days ago
  • Credit rating agency Standard & Poor's. Picture: AFP

    What role did credit ratings play in the 2008 crisis?

    A common narrative for the start of the financial crisis suggests that credit agencies downplayed the riskiness of RMBS, drawing in lenders who did not appreciate their intrinsic risk.

    1412 days ago
  • FILE: A Standard & Poor's document. Picture: AFP

    Treasury says escaping 'junk' a top priority after S&P affirms rating

    The South African government is determined to achieve improved credit ratings, the Treasury said on Friday after S&P Global Ratings affirmed the sovereign’s debt at sub-investment grade ‘BB’/‘BB+’.

    1497 days ago
  • Picture: Christa Eybers/EWN.

    #RandReport: Rand dips ahead of S&P rating review

    Africa’s most industrialised economy has barely grown in the past decade, with fiscal missteps and government corruption contributing to weak business and consumer confidence.

    1497 days ago
  • Credit rating agency Standard & Poor's. Picture: AFP

    S&P: South Africa needs stronger growth to escape "junk"

    S&P Global Ratings’ sovereign analyst Gardner Rusike said the future rating path would be influenced by whether new President Cyril Ramaphosa follows through on promises to reform the economy.

    1556 days ago
  • FILE: President Cyril Ramaphosa. Picture: @MYANC/Twitter

    Roadblocks ahead for President Ramaphosa after Moody's win

    Moody’s said its decision to keep South Africa’s rating at investment grade reflected its view the country’s institutions would regain strength under more transparent and predictable policies - though the new government had to stay on track.

    1557 days ago
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