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What to Watch for as Wall Street Reports Third-Quarter Results

LAGOS (Capital Markets in Africa) – What to make of the surge in cryptocurrencies? Will the Trump administration’s tax-overhaul proposals find traction anytime soon? The biggest U.S. banks are about to show how much those uncertainties, and the slide in market volatility, affected third-quarter results and the lenders’ outlooks. JPMorgan Chase & Co. and Citigroup Inc. come first, on Thursday. Here are some likely takeaways: Trading Revenue Trading probably dropped from the same period a…

Moody’s Puts 5 South African State Firms on Downgrade Review

Posted on by The Editorial Team

Johannesburg, Capital Markets in Africa: Moody’s Investors Service has placed five South African state-owned companies on review for a downgrade due to concerns about governance and the political environment. The foreign currency long-term issuer ratings of Eskom Holdings SOC Ltd., the Development Bank of Southern Africa, Industrial Development Corp., the South African National Roads Agency Ltd. and the Land and Agricultural Development Bank were all placed on review for downgrade, the rating company said in separate statements Wednesday. Eskom’s rating…

Fitch Affirms Cote d’Ivoire at ‘B’; Outlook Positive

Posted on by The Editorial Team

Fitch Ratings affirmed Côte d’Ivoire’s long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘B’, with a ‘positive’ outlook. It also affirmed the short-term foreign currency IDR at ‘B’ and the Country Ceiling at ‘BBB-‘, in line with the Country Ceiling of the West African Economic and Monetary Union to which Côte d’Ivoire belong. It said that the ratings and the outlook are supported by solid economic activity in the context of political stability,…