South Africa faces credit ratings review on Friday

[BusinessTech]

South Africa faces credit ratings review on Friday

South Africa’s renewed commitment to fiscal consolidation, windfall mining revenue and an upward revision to gross domestic product should help it avert a deeper junk credit-rating on Friday and set it on course to regain at least one investment-grade assessment within the decade.

 

[maxxis]

Can you even go lower than junk status? Like Junk Level 2?

 

[JayM]

Can you even go lower than junk status? Like Junk Level 2?

Yes, there are about as many levels of junk as there are investment grade.

 

[PaulMurkin]

Can you even go lower than junk status? Like Junk Level 2?

Yup

 

[callvm]

lolol, can't imagine we'll improve, what with loadshedding and everything

 

[Vorastra]

Yes, there are about as many levels of junk as there are investment grade.

Collecting junk status levels like COD prestige ranks.

 

[The_Right_Honourable_Brit]

Can you even go lower than junk status? Like Junk Level 2?

Yeah: https://www.moodys.com/sites/products/productattachments/ap075378_1_1408_ki.pdf

SA is on Baa2 currently.

 

[JayM]

Collecting junk status levels like COD prestige ranks.

You can only have one junk status per ratings agency at a time. So you can't really collect them, but you can "upgrade" them. And by upgrade, I mean downgrade.

 

[Vorastra]

...but you can "upgrade" them. And by upgrade, I mean downgrade.

Yes, that's what my comment meant.
When you prestige, you go to the next rank hence "collecting ranks".

 

[PaulMurkin]

You can only have one junk status per ratings agency at a time. So you can't really collect them, but you can "upgrade" them. And by upgrade, I mean downgrade.

Which is probably going to happen/already has happened

 

[B-1]

I'm not sure a commitment is enough anymore. We committed lots of times before. This is like our 28th marriage already.