Tag Archive for 'credit rating'

Rising debt tide threatens credit ratings across Africa

Credit ratings across Africa have been falling, and global rating agency Moody’s says the last 12 months saw far more downgrades than upgrades out of its 24 African sovereign ratings. Seven credit ratings are on negative outlook and only Morocco is on positive outlook.

Ethiopia to ring in new year with Eurobond

Ethiopia’s Finance Minister is meeting international banks Barclays, Citi and BNP Paribas about a planned Eurobond issue for late December 2014 or January 2015. The amount is unknown, the duration is likely to be “at least 10 years”.

Ethiopia gets credit ratings from S&P and Fitch, plans Eurobond

Ethiopia, Africa’s fifth biggest economy, is thinking of a debut Eurobond, after it received its first international credit ratings on 9 May: it got B from Fitch and B/B from Standard & Poors.

Tanzania plans debut Eurobond of $500m-$1bn

Tanzania is planning to issue a first Eurobond of up to $1 billion, but the issue could be delayed until after June, according to Reuters.

JSE gives South African firms competitive advantage through corporate bonds

“South Africa’s established and efficient debt capital market is a key competitive advantage for South African firms” writes Barry Martin, joint head of debt capital markets at Rand Merchant Bank. Corporate debt issued in the first quarter of 2013 was R6.1 billion ($612 million).

Fitch gives Zambia B+, clears path for Eurobond

Fitch Ratings agency has given Zambia a “B+” rating on long-term foreign and local currency, with a stable outlook, which could pave the way for a $500 million Eurobond, according to Standard Bank, but the country has plenty of local deposits seeking homes as local interest rates are attractive and the currency that looks strong.