Eskom’s standalone credit profile was downgraded one notch at Fitch Ratings, signalling the South African power utility’s worsening ability to repay debt without additional government support.
Browsing: Fitch Ratings
South African debt got dealt a second blow in a week as Fitch Ratings joined S&P Global Ratings and cut the nation’s credit assessment to junk following President Jacob Zuma’s move to fire his well-respected finance minister. Fitch
South Africa moved closer to a junk credit rating after Fitch Ratings changed the outlook on its assessment to negative from stable and warned that continued political instability could result in a downgrade. The ratings for foreign currency
South Africa’s credit rating would be cut and the rand would “buckle” if finance minister Pravin Gordhan is removed from his post, according to Goldman Sachs. The currency has slumped 6,2% since 23 August
South African President Jacob Zuma is facing renewed calls for his removal as senior leaders of the ANC, including two cabinet ministers, blamed him and his closest supporters for the party’s worst electoral