Call for S Africans to work together in turning economy around despite Moody's Downgrade Government has urged all South Africans to unite, remain positive and continue to work hand-in-hand to turn the economy around. This comes after Moody’s decision to downgrade South Africa’s long term foreign and local currency debt ratings to ‘Ba1’ from ‘Baa3’ and maintain the negative outlook. South Africa’s credit ratings by Moody’s are now one notch below investment grade. “It is with a heavy … [Read more...] about Wait Until the Lockdown and Then Downgrade – Sneaky
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Municipality’s financial stability gets nod from international rating agency
Prudent management of capital grants, creditworthiness, political stability and financial performance has helped boost investor sentiment and reduce the negative outlook of the Nelson Mandela Bay Municipality, said Executive Mayor, Dr Danny Jordaan. This comes hot on the heels of rating agency Moody's improved the municipality's credit rating with an increase of three rating notches, to Aa1.za. The Metro is under borrowed and has cash reserves to the tune of R2 billion and has over "a … [Read more...] about Municipality’s financial stability gets nod from international rating agency
Moodys affirms Baa2 and P-2 ratings
Moody’s Investors Service (Moody’s) has affirmed South Africa’s government bond long and short term ratings of Baa2 and P-2 respectively, and has assigned a negative outlook. Moody’s is the only solicited rating agency that assigns the same rating for both the domestic and foreign currency denominated debt, Baa2 – a rating that is two notches above sub-investment grade. The investment grade credit rating affirmation marks an end to the review period that started on 8 March 2016, when … [Read more...] about Moodys affirms Baa2 and P-2 ratings
Government comments on Moodys ‘just above junk’ rating
South Africa's credit-rating outlook was cut to negative by Moody's Investors Service, which said the country faces a prolonged period of slow growth and increasing political pressures. Moody's lowered the outlook from stable and maintained the country's credit grade at Baa2, the second-lowest investment grade. Last week President Jacob Zuma shocked global investors and raised concern over the credibility of his economic policies by replacing Nene with a little-known lawmaker, David van … [Read more...] about Government comments on Moodys ‘just above junk’ rating
Moody’s maintains Aa3.za rating for the Nelson Mandela Bay Municipality
The renowned global credit rating agency Moody's Investors Service maintained the Nelson Mandela Bay Municipality's credit rating for 2010 'underpinned by its strengthening financial performance and commitment to fiscal consolidation following cash flow problems in the year'. This was part of a report presented before the Standing Committee on Budget and Treasury held at City Hall yesterday. Among other things expressed in the rating rationale, the rating agency noted the diversified and … [Read more...] about Moody’s maintains Aa3.za rating for the Nelson Mandela Bay Municipality
