Latest News & Developments
Struggling Japanese automaker Nissan announced that chief executive Makoto Uchida would step down, a move that follows the failure of merger talks with rival Honda.
eSwatini's Prime Minister announces a significant R2. 4bn loan from the African Development Bank to enhance infrastructure, coinciding with a crucial credit rating upgrade that positions the nation for economic growth
Budget retailers such as Boxer, which recently completed a separate listing on the JSE, are expected to be stable in the coming year as consumers seek value propositions.
Eskom received a credit rating upgrade from S&P Global Ratings, signalling progress in financial stability and a brighter energy future for South Africa.
Since 2020, 95% of the corporate credit-rating actions by S&P for the sub-Sahara region were downgrades.
THE City of Tshwane is basking in glory after it received an improved outlook from negative to stable from Moody’s ratings agency.
Fitch yesterday revised China’s sovereign credit outlook from stable to negative, while affirming its A+ rating amid mounting concerns regarding the nation's public finance outlook.
Moody’s Investors Service on Wednesday downgraded the City of Ekurhuleni’s credit ratings further into ‘junk’ status.
To boost confidence of markets and ratings companies in Israel, it was key for ‘the government and the Knesset act to address the economic issues raised in the report,’ Yaron said.
This was the warning from Fitch Ratings agency on Friday as it left South Africa's credit rating unchanged at ‘BB-’ with a stable outlook.
S&P on Friday forecast that South Africa’s real gross domestic product (GDP) growth would slow to 0. 8% this year followed by a pick-up to 1. 6% on average over 2024-26 as more electricity supply comes on stream.
The credit agency is increasingly concerned about the logistic parastatal’s weakening liquidity profile.
Fitch has maintained South Africa's credit rating below the investment level for the past three years.
Business and labour give their wish lists.
Moody's Investors Service has warned that Eskom’s long-term corporate family rating (CFR) remained constrained due to rising costs of diesel-fired gas turbines to keep higher stages of load shedding at bay as a result of deteriorating generation capacity.
Fitch Ratings has slashed South Africa’s gross domestic product (GDP) growth forecast for 2023 to zero on the back of intensified power cuts while pointing to elevated socio-political risks due to the high unemployment rate.
In its June Economic Outlook, PwC South Africa yesterday said the positive impact this would have on power supply in the country and on individual business operations made for a more positive economic growth outlook for 2024.
Load shedding will continue as the system remains under severe pressure, says the report.
This comes as South Africa’s sovereign credit ratings status remains below sub-investment among three major ratings agencies, with S&P Global skipping its review of the country on Friday while assessing the impact of the ongoing energy crisis.
Absa Bank has painted a grim picture of the impact of load shedding on South Africa’s economic growth outlook for 2023, saying that the country remained in something of a “polycrisis” and “at risk of a rupture”.
Moody's said in an issuer comment that the blackouts' effect on businesses, consumer sentiment and investment will weaken the country's already subdued economic growth prospects.
Moody’s vice president senior credit officer Aurelien Mali yesterday said gross domestic product (GDP) in South Africa was now likely to track below their previously downward growth forecast of 1% in 2023.
The JSE’s Bank Index held steady this year in a dynamic banking market, and after the big banks reported healthy earnings and remained well positioned to absorb likely asset quality risks and higher impairments next year, from a weaker operating environment.
According to their Africa 2023 Outlook, released on Friday, South Africa’s gross domestic product (GDP) will grow by a mere 1% next year, while Senegal is anticipated to be the continent's fastest-growing economy with 7% GDP.
No change by major agencies, despite improvement in the fiscus