Tag ArchivesMoody’s

IMF, Treasury, economy, GDP, unemployment, International Monetary Fund

Moody’s on South Africa: fiscal slippage likely this year, but medium-term targets within reach

“We expect a slower pace of fiscal consolidation than the Government of South Africa (Baa3 stable) is forecasting based on a number of headwinds,” Moody’s said in a statement this afternoon. (more…)

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IMF, Treasury, economy, GDP, unemployment, International Monetary Fund

Moody’s: Weak macroeconomic conditions to have limited effect on securitised transactions in SA

Moody’s Investors Service today published a structured finance research report that looks at the performance of South African commercial mortgage-backed securities (CMBS) and residential mortgage-backed securities (RMBS). “Despite subdued economic activity, with weak consumer demand, low business investment and political uncertainty, the effects on the underlying commercial/residential real estate markets and associated securitised transactions is […]

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Recovery in business confidence crucial for SA’s growth: Moody’s

While consumer and business confidence in South Africa (Baa3 stable) improved in the first quarter of the year, investment weakened during that period. This is according to an issuer report from Moody’s. (more…)

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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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