Tag ArchivesMoody’s

Guardrisk Group ratings confirmed

International rating agency, Moody’s Investor Service, recently confirmed the ratings assigned to three companies in the Guardrisk Group, which is a subsidiary of JSE-listed MMI Holdings. (more…)

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Minister of Finance, Mr Nhlanhla Nene

SARS collects R1 216.6 billion in the financial year 2017/18

The South African Revenue Service collected an amount of R1 216.6 billion in the financial year 2017/18. This was announced today at a press conference by the Minister of Finance, Nhlanhla Nene. “It should be noted that these are preliminary results, which will be subject to final audit. The preliminary result is very close within 0.06% […]

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Naspers reduces its stake in Tencent, a credit positive

By Moody’s Investors Service On Friday, Naspers Limited (Baa3 stable) announced that it had reduced its stake in Tencent Holdings Limited (A1 stable) to 31.2% from 33.2% for proceeds of $9.8 billion through an accelerated offering to investors. The disposal is credit positive for Naspers because it strengthens the company’s balance sheet to fund a scaling […]

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nedbank

Moody’s decision a vote of confidence in South Africa, says Nedbank CE Mike Brown

The announcement late last night by global credit rating agency Moody’s Investor Services affirming South Africa’s long-term investment grade and upgrading its outlook from negative to stable is a vote of confidence in the progress we have made as a country since late last year. After placing South Africa on a 90-day review for a […]

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Gold mine head gear in Johannesburg South Africa

Good news from Moody’s

By Stanlib Chief Economist, Kevin Lings. Global ratings agency Moody’s Investor Services, left South Africa’s international long-term credit rating unchanged at Baa3 on Friday night. Moody’s also changed the ratings outlook from negative to stable, ending the review for downgrade that started in November 2017. This decision reflects Moody’s view that “the previous weakening of South […]

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Prof Raymond Parsons

Moody’s decision ‘good news’ for SA economy

Moody’s decision on SA’s investment rating is good news for the economy and the country must use the breathing space wisely.  This is the view of NWU School of Business and Governance Economist, Professor Raymond Parsons. ‘The widely-expected but critical decision by Moody’s to retain South Africa’s existing investment rating and also to raise the […]

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Moody’s confirms South Africa’s Baa3 rating and changes the outlook to stable

The author is Zuzana Brixiova, a Moody’s Vice President – Senior Analyst and lead sovereign analyst for South Africa. (more…)

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Expectations of Moody’s ratings announcement

If Moody’s do keep its foreign and domestic currency debt at investment grade, it will be seen by the investment community as a thumbs up for South African President Cyril Ramaphosa. The rand and the stock market are likely to rally; it will be a positive message. (more…)

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