Moody’s “may downgrade USA”

New York – Moody’s Investors Service said on Tuesday it would likely deprive the United States of its triple- A rating if the US Congress failed to reach a long-term debt reduction plan next year. In its latest report entitled ‘Update of the Outlook for the US Government Debt Rating’, Moody’s said the direction of … Continue reading “Moody’s “may downgrade USA””

There are “inadequecies” in rating agencies like Moody’s- Gordhan

Midrand – South Africa disagrees with rating agency Moody’s downgrade of South African financial institutions, says Finance Minister Pravin Gordhan. “We disagree with the assessment. They are not giving us enough credit for managing our economy,” Gordhan said on Thursday at the launch of the Black Business Council at Gallagher Estate. The minister’s criticism follows … Continue reading “There are “inadequecies” in rating agencies like Moody’s- Gordhan”

SARB refutes Moody’s downgrade

Pretoria – South African banks are sound and well capitalised, the Reserve Bank has said in response to Moody’s downgrading of five banks. On Wednesday, Moody’s Investors Service downgraded by one notch the senior debt and deposit ratings of five South African banks namely: Standard Bank of South Africa, Absa Bank Limited, FirstRand Bank Limited, … Continue reading “SARB refutes Moody’s downgrade”