The evidence is tipping towards a downgrade for SA by rating agencies — but the probability is finely balanced in SA’s favour, Barclays Africa CEO Maria Ramos has said. "There is a bit of a struggle between the evidence and the emotion at the moment — and the evidence doesn’t always support the emotion, the evidence is probably more poised towards a downgrade," she told the South African Portuguese Chamber of Commerce in Johannesburg on Thursday. Ramos was responding to questions from the audience on whether the country will be downgraded when rating agencies review its investment-grade rating from the end of this month and into December. She said it was finely balanced in favour of SA not being downgraded but being kept on watch to face another review in six months’ time. Ramos, who is also part of the CEO initiative working with government and labour to avert a downgrade, said a great deal of work and effort had gone into showing the rating agencies that while there were challenge...
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