Research Update: South Africa Long-Term Foreign Currency Rating Cut To 'BB+' On Political And Institutional Uncertainty; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: South Africa Long-Term Foreign Currency Rating Cut To 'BB+' On Political And Institutional Uncertainty; Outlook Negative

Research Update: South Africa Long-Term Foreign Currency Rating Cut To 'BB+' On Political And Institutional Uncertainty; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: South Africa Long-Term Foreign Currency Rating Cut To 'BB+' On Political And Institutional Uncertainty; Outlook Negative
Published Apr 03, 2017
12 pages (5395 words) — Published Apr 03, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

In our opinion, the executive changes initiated by President Zuma have put at risk fiscal and growth outcomes. We assess that contingent liabilities to the state are rising. We are therefore lowering our long-term foreign currency sovereign credit rating on the Republic of South Africa to 'BB+' from 'BBB-' and the long-term local currency rating to 'BBB-' from 'BBB'. The negative outlook reflects our view that political risks will remain elevated this year, and that policy shifts are likely, which could undermine fiscal and economic growth outcomes more than we currently project. On April 3, 2017, S&P Global Ratings lowered the long-term foreign currency sovereign credit rating on the Republic of South Africa to 'BB+' from 'BBB-' and the long-term

  
Brief Excerpt:

...In our opinion, the executive changes initiated by President Zuma have put at risk + fiscal and growth outcomes. We assess that contingent liabilities to the state are rising. + We are therefore lowering our long-term foreign currency sovereign credit rating + on the Republic of South Africa to '##+' from '###-' and the long-term local currency rating to '###-' from '###'. The negative outlook reflects our view that political risks will remain elevated + this year, and that policy shifts are likely, which could undermine fiscal and economic growth outcomes more than we currently project....

  
Report Type:

Research Update

Ticker
50184Z@SJ
Issuer
South Africa (Republic of)
Sector
Global Issuers, Structured Finance
Country
South Africa
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: South Africa Long-Term Foreign Currency Rating Cut To 'BB+' On Political And Institutional Uncertainty; Outlook Negative" Apr 03, 2017. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-South-Africa-Long-Term-Foreign-Currency-Rating-Cut-To-BB-On-Political-And-Institutional-Uncertainty-Outlook-Negative-1825423>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: South Africa Long-Term Foreign Currency Rating Cut To 'BB+' On Political And Institutional Uncertainty; Outlook Negative Apr 03, 2017. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-South-Africa-Long-Term-Foreign-Currency-Rating-Cut-To-BB-On-Political-And-Institutional-Uncertainty-Outlook-Negative-1825423>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.