S&P Global Ratings has downgraded Cell C’s debt to “D”, or “default” – its lowest-possible “junk” rating – after the mobile operator “failed to make interest payments on certain bilateral loan facilities” due last month.
S&P Global Ratings has downgraded Cell C’s debt rating further after the troubled mobile operator amended a private “airtime facility” agreement that the agency described as being “tantamount to a selective default”.
While President Cyril Ramaphosa says power utility Eskom is considered too big to fail, S&P Global Ratings has a different view: it could be too big to support.
Just a week after downgrading South Africa’s foreign currency rating to “junk”, S&P Global Ratings has changed its rating outlook on the country’s biggest fixed-line telecommunications operator, Telkom, to “negative”. Its rating has been
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
Tens of thousands of protesters marched in South Africa to demand that President Jacob Zuma resign after he fired the finance minister and reshuffled the cabinet. Marchers chanting “Zuma must go” in Pretoria walked to
South African bonds and the rand fell after President Jacob Zuma bolstered his position by fending off calls from senior ruling party officials to quit. South Africa’s benchmark rand bond due in
South Africa lost its investment-grade credit rating from S&P Global Ratings for the first time in 17 years in response to a cabinet purge by President Jacob Zuma that investors worry will thwart an economic
The downgrade of Cell C’s corporate credit rating to the junkiest of junk by S&P Global Rating is another blow to the telecommunications company’s brave ambition of reducing its crippling debt load of R20,7bn. This is the view of
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