The Financial Sector Conduct Authority has granted Sovereign Africa Ratings Ltd a licence to operate as a sovereign credit ratings agency from March 8, 2022. SAR is based in Centurion in Gauteng, and is authorised to issue sovereign ratings only.
According to the FSCA, a sovereign credit rating is one where: It says the approval is in terms of Section 5 of the Credit Rating Services Act which “seeks to ensure that credit ratings issued in South Africa meet minimum standards of quality, transparency and independence”. Only companies licensed by the authority as credit rating agencies may lawfully issue credit ratings that may be used for regulatory purposes. Palesa Mofokeng is a Moneyweb intern.
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