The Global Credit Rating Agency GCR Ratings (GCR), part of Moody’s, announced a ‘Review Extension’ for Fedhealth Medical Scheme‘s (Fedhealth or the Scheme) in January 2026.
A rating update is expected by the end of February 2026, which means the last rating is still in effect and remains unchanged.
According to the GCR, sector-related actions indicate a cautious outlook because the risk is influenced by broader South African economic factors.
The sovereign rating was upgraded to BB by S&P Global last year.
GCR recently downgraded Africa Medical Supplier (AMS) PLC’s (based in the Democratic Republic of Congo) issuer ratings in January 2026, indicating localized credit challenges in the broader regional medical supply chain.
Emzor Pharmaceutical Industries Limited Scale, (Nigeria) was revised to “watch negative” in January 2026, due to liquidity concerns related to bond obligations.
South Africa’s improved economic outlook, is expected to shelter many corporate ratings, and provide stability to the pharmaceutical sector.