SA banks' ratings boosted

From Finance24

Moody's Investors Service has raised to "Baa1" (with a stable outlook) the foreign currency long-term deposit and issuer ratings for six South African banks, the ratings agency has announced.

The deposit ratings for Absa, FirstRand Bank Ltd, Investec Bank Limited, Nedbank Ltd, and Standard Bank of South Africa have been raised to Baa1/Prime-2 from Baa2/Prime-2.

Also, the issuer rating for the Development Bank of Southern Africa (DBSA) has been raised to Baa1 from Baa2.

The action was prompted by Moody's decision to upgrade the country rating ceilings for South Africa, which now stand at Baa1/Prime-2 for both foreign currency bank deposits and foreign currency debt.

According to Moody's, the deposit ratings were raised to the new country ceiling primarily based on the merit of the financial strength ratings of the banks.

The issuer rating for DBSA is set at the government's senior debt rating level, as it remains linked to the credit of the government.

The rating action does not affect the short-term foreign currency deposit rating of Prime-2, financial strength, local currency and national scale ratings of the banks.

 

Opportunities galore! 

One of the reasons for this forum is to give traders and investors the opportunity to interact with each other without having to leave their desks. (Great idea, don’t you think?) 

You can do that by making use of the chat rooms at KeyChat, posting messages or notices to KeyBoard, or you could contact the helpdesk for assistance in any matter – whatsoever. 

But there is also another exciting option: traders have the opportunity to contribute to this section of the web site - and it is absolutely free! 

This is your opportunity to show your worth as a trader, portfolio manager, economist or market commentator. Just e-mail us with your contribution. (If writing is not your best asset, just send us the info and we’ll transform it into something magical – that’s what we do at KeyNews!) 

Send your view on the markets or any particular issue to our editor and we’ll put it on the web site with (or without, if you prefer) your particulars & contact details and we’ll publish it without charge. 

At the same time it offers investors the opportunity to meet traders from different broking houses and different markets by reading their contributions on-line. 

“Now why didn’t I think of that?” we hear someone mutter. Because you can’t write as well as we do, idiot. And besides, we thought of it first. 

Send us your contribution and let us make you look as good as you are. 

We have a few other Aces up our sleeves as well. For example, we are in talks with several interested parties in order to introduce an annual year-end party for all traders from all the different markets. 

And why not start a social club as well? Initial calculations show that membership fees do not need to be exorbitant at all if we want to get together every now and then. Once again, we would love to hear from you in this regard – send an e-mail to our helpdesk if you have any ideas, questions or suggestions. 

This is your forum. There is no other like it, so why not tell all your colleagues and clients about KeyNews and make full use of what we have to offer? 

Oh, and did we mention the competitions? Win rugby tickets, hampers, golf shirts, invitations to special events and lots more by merely visiting this site daily. We are working our butts off to bring you the best offers in town. 

Now send us an e-mail, we know you want to!

KeyBoard

Remember to watch the KeyBoard (underneath the main menu) for upcoming events. The SAIFM (SA Institute of Financial Markets) have a little something coming up for those who want to learn more about derivatives. The monthly get-together of the JSE Old Boys' Club is also coming up at the end of the month. If you know of something happening in the investment world, send us an e-mail to help desk or feel free to post it directly on the bulletin board (Keyboard).

Book Store

Have you been there yet? See the main menu for the link to the Book Store where you will find many interesting books about investments, characters and legends on the markets and much more.

Earn commission

Want to earn extra commission? Help us sell some advertisements on this site and you could earn some money on the side. For more information, write to Louw Aucamp and find out how you can earn some extra cash. You could be inches away from a lot of money without even realising it! Why wait? Do it now.

Let's get together again!

You have just entered the most exciting financial web site for all market participants.

KeyNews is about bringing traders and investors from all the financial markets together on a single forum. Why? Because they were scattered across the country when the JSE Securities Exchange and the Bond Exchange of South Africa left the old stock exchange buildings in Diagonal Street. And they just love the idea of getting together again!

This is where you hang out if you have an interest in the markets.

While we do offer all sorts of news and market information, we are not in competition with existing web sites that focus purely on investment news. Instead we offer a news service that filters the masses of available news to a one-pager and we offer our readers an interactive forum where they can chat to each other, read about social and official get-togethers, offer their views and be part of a group that is hooked on the markets. We'll also bring you competitions, sponsored events and social news about fellow traders and investors.

Don't forget to write to the help desk if you think we can assist you in any way - you'll get a response within 24 hours, if not straight away.

The Red Room offers three live chat rooms and we encourage you to make use of it:

	Room 1 is for traders;
	Room 2 is for traders and investors alike ;
	Room 3 is for social talk

Log in by entering your name and off you go. Minimise the window and keep it open the whole day to see who else pops in for a virtual cup of coffee or a quick virtual beer later in the day.

Keyboard is a bulletin board for events. Go and have a look where the JSE management has information sessions across the country this week. Or find out when and where the next social event will take place. Everybody is welcome to use this bulletin board - if there is an event that you would like others to know about, post it here.

This is great if you want to notify the investment community of golf days, information sessions, AGM's, traders' get-togethers, company results, et cetera. Use it - it's for free!

Underneath are some of the comments we have received so far. Thank you very much for the warmth with which you accepted us into the virtual world of the Internet and keep those comments coming. Write to us or post it directly to the bulletin board. Whatever you do, make sure you visit KeyNews at least once a day…:

	Daan Eksteen: "I had a look at the (KeyNews) web site and I'm quite impressed with the useful markets page - as were everybody else I showed. I think the site has quite some potential here at the southpoint of Africa where we aren't always used to service.";
	Jaco Malan (grain futures trader): "Great site! I like the three live chat rooms very much. That has loads of potential for traders.";
	Johan Kruger: "The web sit is first-class, very user friendly and easy to navigate.";
	Neville Boner (stockbroker): "Great site. This is something the investment community needs. Almost like a virtual Diagonal Street.";
	Joan van Zyl: "Tonight I finally did what my fingers have been itching to do the whole week and that was to visit KeyNews. It looks GREAT!!!! Congratulations!";
	Linde Dietrich: "It was lovely to read about your business. I am rather excited on your behalf and wish you all the best. You sound like a bunch of special people with the right spirit!"
	Dr Johan Brink: "Listen, I am really impressed. Seriously."
	Hans de Jager: "I'm bloody impressed. Bloody impressed. I have never seen such a difficult subject presented so professionally. People in this game should be crazy about your web site - I take it this is a first in South Africa? The interface (i.e. how the page loads, what it looks like and how it communicates) is tops. Some pages load a little slowly, but that is because of the mass of data it contains - it is truly a specialist area that is presented in a most entertaining manner. Not too many bells & whistles and the graphics are not disturbing either. I'd say it (the web site) is just right.";

With the introduction of FAIS and the massive changes the financial services industry is currently undergoing world-wide, the need occurred to form an inclusive group of role players across the spectrum of markets and financial services that can interact with each other as well as with investors, the authorities and other market participants.

This is where you want to be if you have any interest in the financial markets and want to stay on top of what is happening locally and abroad.

KeyNews was formed by traders and financial advisors who identified the need by market players to belong to a group that looks after their individual and collective interests. Therefore, this will remain a free service for as long as we are unable to offer you any added value.

Once we are able to offer you something that can add value to your business, we are most certainly not going to rip you off and you will enjoy the opportunity to decide for youself if you want to subscribe to additional services at a small fee, advertise at very attractive rates or pay for any other service we offer..

For example, the weekly newsletter is FREE and subscriptions will be phased in gradually. If you subscribe now, you are immediately eligible for a discount of 50% for the first YEAR - when the newsletter eventually does become a paid for service. That means it could cost you as little as R75 per month - including access to the help desk, free SMS messages with live market updates and other info, a free subscription to Finance Week/Finansies & Tegniek, invitations to sponsored social and other events, and more.

Effectively this means that you become a member of the most exclusive club in Southern Africa at a fraction of the membership fees charged by other exclusive clubs - if you decide to join. Much of what KeyNews has to offer wil remain free, though.

Write to the help desk and tell us what you think. Or ask a question - it's for free!

Content on the site is copyright of KeyNews.biz and its writers. Reproduction of this publication's copyright material is not permitted in web, electronic, printed or any other form without the written consent of the publisher. This site is for information purposes only. The publication neither recommends nor advises on the investment and trade in currencies, bonds, stocks, commodities, futures, options, other derivatives, funds or any other financial or investment product or instrument. All information has been obtained from sources believed to be reliable, but accuracy cannot be guaranteed. Readers are solely responsible for the use of this information. They should not rely on it and should regard it as only one of their sources. They should seek advice elsewhere. The publisher of KeyNews.biz, panellists, other forecasters and contributors disclaim liability for any loss, damage, injury or expense that might arise from the use of the information and services contained herein.