Business Maverick: Ramaphoria has taken hold of the otherwise serially depressive S&P Global Ratings

When Cyril Ramaphosa became State President in February 2018, his arrival to Pretoria’s Union Buildings unleashed a surge of positive sentiment and investor confidence across the country.

Unusual, because S&P is one of two credit rating agencies that rate South Africa’s creditworthiness at sub-investment grade .is normally bearish in its assessment of the country. After all, the agency has been downgrading South Africa’s credit rating since 2012 as the country’s economic outlook and public finances deteriorated under the destructive Jacob Zuma years.

S&P’s primary credit analyst for South Africa Gardner Rusike said at the agency’s annual conference in Johannesburg on Tuesday. In November 2018, S&P kept South Africa’s long-term currency debt at BB+, the first notch of sub-investment grade, with a stable outlook. The long-term foreign currency rating is at BB, two notches below investment grade. Its next credit rating decision and economic growth update are expected on May 24.

Even with such growth positive exogenous factors, senior economists are taking S&P’s growth forecast with a pinch of salt. Both

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Business Maverick: Standard and Poors Sees S.A Policy Reforms Continuing After ElectionStandard and Poors Global Ratings is counting on the ANC to continue with policy reforms after the May 8 election, and this is why there is stable outlook on SA's credit rating.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Fear about US-China trade talks and dire German data push global stocks downBloomberg reported on Thursday that the US wanted to set a 2025 target for China to meet trade pledges
La source: BDliveSA - 🏆 12. / 63 Lire la suite »

Rooibos breaks into global chocolate marketMaster chocolatier Daniel Waldis says he has been experimenting with rooibos for some time.
La source: TheCitizen_News - 🏆 6. / 75 Lire la suite »

Amid trade tensions and Brexit worries, IMF cuts global growth outlook - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2019 and warned growth could slow further due to trade tensions and a potentially disorderly British exit from the European Union.
La source: SABC News Online - 🏆 32. / 51 Lire la suite »

Pound falls again amid Brexit chaos as global stocks gainUS-China trade deal reportedly closer lifts Asian indices
La source: BDliveSA - 🏆 12. / 63 Lire la suite »