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S&P Puts Eskom On Positive Credit Watch, Retail Sales Up Today

SOUTH AFRICA
  • S&P Global Ratings put Eskom on positive credit watch after assessing that the government's debt-relief plan for the utility "will address [its] near-term debt obligations once implemented and give Eskom room to focus on operational improvements and electricity-sector reform targets." This comes after the ratings agency unexpectedly lowered South Africa's long-term foreign-currency credit rating outlook to stable from positive last week, dealing a blow to the country's efforts to regain an investment-grade rating.
  • Former Minister of Women, Youth and Persons with Disabilities Maite Nkoana-Mashabane resigned from parliament after losing her ministerial portfolio in the recent Cabinet reshuffle. TimesLive reported that she is among a few ouster ministers who are expected to give up their parliamentary seats.
  • South Africa's retail sales for January will be published at 11:00GMT/13:00SAST.
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