Browsing: S&P Global Ratings

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S&P warns over Telkom credit rating

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

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Now Fitch downgrades SA to junk

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

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‘Zuma must go!’: SA hits the streets

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

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Rand tumbles on news Zuma survives

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

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SA is now junk – thanks to Jacob Zuma

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

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Gloom hangs over Cell C rescue plan

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

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Rand will ‘buckle’ if Gordhan charged

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

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