News Formal

HILARY JOFFE: S&P downgrade adds to SA’s woes and will hit investment

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

United States News News

The credit ratings agency has ended a stretch of relative ratings stability for SA

Ratings agency S&P Global unexpectedly upgraded its outlook on SA’s credit rating from stable to positive in May 2022. Now it has unexpectedly downgraded the outlook back to stable again.

S&P’s timing late on Wednesday night was a surprise given that the agency was scheduled to update its rating only in May. But the direction of the change was not. The other ratings agencies could follow S&P’s lead by using the outlook to sound warning signals in coming months, even if they do not cut the rating itself...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Unemployment and cost of living will keep rising , with social disintegration and upheaval rising to levels of revolution and destruction not foreseen before.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

JUST IN | S&P downgrades SA's outlook | BusinessS&P Global unexpectedly downgraded South Africa's credit rating outlook to stable from positive on Wednesday evening. | News24_Business _Business Nothing feels stable in this country. _Business Not a surprise after a nonsense cabinet reshuffle and still no action to deal with corruption. _Business No surprises for the downgrade!
Source: News24 - 🏆 4. / 80 Read more »