S&P questions how SA will deliver on spending cuts
Ratings agencies Fitch and Moody’s have both raised the same concern
05 July 2020 - 23:07
S&P Global Ratings has joined fellow credit ratings agencies Fitch Ratings and Moody’s Investors Service in expressing doubt over SA’s plan for extensive spending cuts to stabilise the country’s soaring debt.
In an interview with Business Day, S&P’s primary credit analyst for SA, Ravi Bhatia, said it was unclear how SA would deliver on the promises announced in the recent supplementary budget as it did not clarify "where these cuts are going to come from or how they are going to be achieved"...
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