• Power to Gordhan

    SONA 2016 has set it all up for Pravin Gordhan, it shows just how powerful he may be, says Daniel Silke.

  • Inside Labour

    The history of Valentine Day cards gives a glimpse of how technology resulted in job cuts, says Terry Bell.

  • Courage to do right

    A number of factors will impede Zuma’s opportunity to have a ‘Lula moment’, says Prof Dirk Kotze.

All data is delayed
Loading...
See More

Fitch affirms IDC ratings

Jan 15 2013 12:48
I-Net Bridge
Johannesburg – Fitch Ratings has affirmed the Industrial Development Corporation's (IDC's) national long-term rating at 'AA(zaf)' and Short-term rating at 'F1+(zaf)'. The outlook is stable.

As IDC is only rated on the national scale‚ its ratings were not affected by the downgrade of SA's Long-tern foreign currency Issuer Default Rating (IDR) to 'BBB' from 'BBB+' and Long-term local currency IDR to 'BBB+' from 'A' on 10 January 2013‚ the ratings agency said on Tuesday.

Fitch said the main factors that could lead to a negative rating action are a dilution of government oversight and the dilution of government support if there were material deterioration of the IDC's asset classes.

The main factor that could lead to positive rating action is a more formalised support from the government‚ such as an explicit guarantee on all financial liabilities‚ it said.


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

idc  |  fitch ratings

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Will Jacob Zuma's State of the Nation speech help SA avoid "junk" downgrade?

Previous results · Suggest a vote

Loading...