CEO of state-owned arms utility Denel, Danie Du Toit, has welcomed a decision by sovereign credit rating agency Fitch to affirm Denel’s long-term rating and assign the company a stable outlook.
Fitch Ratings said that while South Africa’s worsening debt forecasts don’t include the threats posed by the state taking on any of the embattled power utility’s R450bn of debt, any risks posed by this are reflected in the nation’s current credit assessment.
At first glance, 2019 might look like a quiet year for distressed-debt investors, judging by the small list of troubled bonds coming due - but the light schedule could be deceptive.
The global ratings agency issued an opinion on the economic stimulus and recovery plan announced by President Cyril Ramaphosa.
Ratings agency Fitch has kept South Africa's sovereign credit rating at junk status and has affirmed a stable outlook, based on governance recoveries at state-owned enterprises.
Political uncertainty in SA will continue following the election of Deputy President Cyril Ramaphosa as leader of the ANC, says Fitch ratings agency.
The ratings agency said it expected Minister of Public Enterprises Lynne Brown to appoint a permanent Eskom board before the end of November.
Finance Minister Malusi Gigaba will soon meet with business leaders to formulate a strategy to counter the economic recession, says Communications Minister Ayanda Dlodlo.
South Africa is on alert as S&P Global Ratings is set to provide an update on the country’s credit rating, after Fitch affirmed SA's rating at BB+ with a stable outlook.
Cyber-attacks against financial institutions are becoming increasingly significant risks, says Fitch Ratings.
The SA government notes ratings agency Fitch's decision to affirm the country's long-term foreign and local currency debt ratings at 'BB+' and maintaining a negative outlook.
Foreigners are ditching South African assets at the fastest pace on record as concern mounts that the government will lose its last investment-grade rating.
Ratings agency Fitch on Thursday kept South Africa's sub-investment grade credit rating unchanged at BB+ with a stable outlook.
The impact of the escalating global trade war is likely to negatively impact South Africa's economic growth, warns Fitch Ratings.
Rating agencies Moody's and Fitch are somewhat optimistic about some new developments in South Africa, following the resignation of Jacob Zuma and subsequent actions related to corruption, in mining and the Treasury.
Fitch Ratings has kept SA's long-term foreign and local currency debt ratings at ‘BB+’ - commonly known as 'junk' - with a stable outlook.
The ANC is expected to meet the Chamber of Mines concerning the Mining Charter, as Fitch Ratings said the new laws will deter investment.
South Africa has paid a total amount of R81.5m over the past nine years for the services rendered by four international ratings agencies, according to Finance Minister Malusi Gigaba.
The rand has dipped below R13 to the dollar after Fitch Ratings announced it has affirmed SA's long-term foreign- and local-currency issuer default ratings at BB+ with a stable outlook.
Although the reality in SA is worrying, people are either too hyperbolic or too optimistic, says emerging market economist Peter Attard Montalto.
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