53914
S. Africa Junk Rating Inevitable
S. Africa Junk Rating Inevitable

S. Africa Junk Rating Inevitable

S. Africa Junk Rating Inevitable

Should South Africa avoid having its credit rating cut to “junk” in the next two weeks, it could just be staving off the inevitable.
More than half of 12 economists surveyed by Bloomberg said S&P Global Ratings would strip the nation of its investment-level rating.
The median probability of South Africa retaining its current assessment is 45%, falling to only 20% in 2017, the survey shows.
South Africa faces a cut to junk on its foreign currency credit rating as output is forecast to expand at the slowest pace this year since 2009, delaying the government’s plans to narrow the shortfall on the budget and rein in debt.
S&P is scheduled to announce its assessment–which is at the lowest investment grade and has a negative outlook–on December 2 and Moody’s Investors Service will publish the review of its rating, currently one level higher than S&P’s, on November 25.
Fitch Ratings hasn’t yet set a date for its assessment.

Short URL : https://goo.gl/dAJ4OM
  1. https://goo.gl/wK6XrX
  • https://goo.gl/Qxayds
  • https://goo.gl/b5pHJY
  • https://goo.gl/2WIZ1P
  • https://goo.gl/o7PTNZ

You can also read ...

Venezuela Devalues Currency by 95 Percent
Venezuela devalued its currency by about 95% ahead of the Aug...
The average annual salary for K–12 public-school teachers is roughly $58,000, and they typically spend a sizable chunk  of that on classroom supplies integral to their jobs
Airbnb, the popular platform that lets people rent out their...
Nigeria CB Reports $91b FX Inflow in 2017
The Central Bank of Nigeria, said the aggregate foreign...
S&P, Moody’s Lower Turkey Ratings
Two major global ratings agencies lowered Turkey’s ratings Aug...
Argentina Says Poverty to Rise as Economy Slumps
More Argentines are likely living in poverty now compared with...
Egypt Keeps Rates Steady
Egypt’s central bank left its main interest rates unchanged,...
Russia’s largest electronics chain, M. Video, estimates that about a fifth of its products are bought with credit  or on installment plans as people are more confident about the future.
Russian consumers are borrowing like the boom times are back...
Long Road to Greek Recovery
On Monday, Greece exits the third and final bailout program of...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus