Standard & Poor’s has released its latest version of Africa Outlook, containing the most recent S&P rating actions on rated African entities and transactions, as well as a range of features on global and regional trends that affect the continent.
Most significantly, this issue – which coincides with the Annual Meeting of the African Development Bank in Abidjan, Cote d’Ivoire – includes a number of sovereign rating downgrades for Africa’s oil producing countries, including Angola, Gabon and Nigeria. Other notable rating actions – this time on companies – include ESKOM’s downgrade to ‘BB+’ and a new rating issued for South African diamond mining company, Petra Diamonds.
Among the features, a sub-Sahara debt report by Credit Analyst Ravi Bhatia looks at borrowing needs across a range of rated African countries – several of them having successfully tapped into international capital over the last year. On the banking side, Credit Analyst Matthew Pirnie talks about the new regulatory framework that South African banks will face, while Credit Analyst Jones Gondo explains how the drop in crude oil prices is raising credit risks for domestic banks in another prominent feature.