Tag Archives: Moody’s
Moody’s: Latest News
Staff, 2:55 am
Regional and pan-African banks could lend more if they reduced their stock of bad loans and got additional funding from shareholders. Ratings agency Moody’s said that these two factors were limiting the ability of African Export-Import Bank (Afreximbank), East African Development Bank (EADB), PTA Bank and Shelter-Afrique to lend more.
Ann Brown, 9:00 am
From BBC The ratings agency Moody’s has downgraded South Africa’s sovereign debt rating. The move comes after similar downgrades from Fitch and Standard and Poor’s. The South African economy has been struggling of late, amid industrial action on the platinum mines earlier this year and recent electricity blackouts. South Africa’s economy narrowly avoided recession in […]
Makula Dunbar, 5:02 pm
Moody’s Ratings Agency has downgraded South Africa’s investment grade credit ratings to Baa2 from Baa1 and adjusted the outlook to stable from negative. Moody’s decision keeps South Africa’s rating in investment grade. The ratings agency said the investment grade rating is a reflection of the following factors:
Ann Brown, 9:00 pm
Ratings agency, Moody’s says South Africa’s latest mass strike could send panic waves to investors and slow the country’s economic growth. The ratings agency says it would also continue monitoring the performance of Anglo American Platinum which is one of the main companies the agency rates in the country.
Kevin Mwanza, 8:15 am
Kenya’s Eurobond sale is showing the way for more sub-Saharan African nations to follow as the Federal Reserve and European Central Bank signal borrowing costs will remain low. Ghana, Ivory Coast, Rwanda and Senegal say they’re weighing foreign-currency debt, while the Republic of Congo said this week it plans to sell $1.5 billion of credit-linked notes to European investors.
Kevin Mwanza, 1:46 am
Moody’s Investor Service and Standard & Poor’s have both revised their respective rating outlooks on Ghana from Stable to Negative. Moody’s had assigned its B1 rating (equivalent to B+) on the country in December 2012 while Standard & Poor had maintained a Stable Outlook since August 2010 when the agency downgraded Ghana to B (from B+).
Kevin Mwanza, 1:40 am
From Reuters: Gabon plans to raise at least $500 million via a new 10-year Eurobond to fund infrastructure investment and will buy back up to $140 million of its 2017 Eurobond, according to a preliminary prospectus seen by Reuters. The mineral-rich central African nation was one of the first sub-Saharan countries to make its debut […]
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