Posted June 13, 2017 3:57 pm by Comments

South Africa’s banks and insurance companies have been downgraded in keeping with the country’s overall downgrade. Moody’s considers the banks and insurance groups’ key credit fundamentals (asset quality, capitalisation, profitability and financial flexibility) to be partly correlated with and linked to the economic and market conditions in South Africa.

Date Document Type Title Issuer/Entity
12 Jun 2017 Rating Action Moody’s downgrades 13 South African sub-sovereigns and changes the outlook to negative Amathole, Distr…
Bergrivier, Mun…
Breede Valley, …
Cape Town, City…
City Power Joha…
East Rand Water…
Ekurhuleni, Met…
Johannesburg, C…
Mangaung, Metro…
Mbombela, Munic…
12 Jun 2017 Rating Action Moody’s downgrades ratings of South African insurance groups following action on the South African sovereign. Outlook negative. Guardrisk Insur…
Guardrisk Inter…
Guardrisk Life …
MMI Group Limit…
Old Mutual Life…
Old Mutual Plc
Standard Insura…
12 Jun 2017 Rating Action Moody’s downgrades the issuer ratings of DBSA, IDC and Land Bank to Baa3; outlook negative Development Ban…
Industrial Deve…
Land and Agricu…
12 Jun 2017 Rating Action Moody’s downgrades the five largest South African banks to Baa3; outlook negative Absa Bank Limit…
FirstRand Bank …
Investec Bank L…
Nedbank Limited
Standard Bank G…
The Standard Ba…
09 Jun 2017 Rating Action Moody’s downgrades South Africa’s rating to Baa3 and assigns negative outlook South Africa, G…
ZAR Sovereign C…

Investors should check out our South Africa ADR list and out South Africa ETF list.

 

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