Moody’s Investors Service has warned that political infighting, low growth and unemployment pose the greatest risks to the South African economy in a credit note released just after midnight on Saturday South African time. Moody’s is the only one of the three main international rating agencies to rate SA two notches above junk, and has historically remained optimistic about SA. Instead of delivering a sovereign credit rating decision, Moody’s released research papers on SA, in which it highlighted the upsides and risks to the country’s economy. Fitch on Friday kept SA’s rating at BBB-, one notch above sub-investment, but dropped the outlook from stable to negative. It also said political risks to standards of governance and policy-making had increased, and would remain high at least until the electoral conference of the ANC in December 2017, negatively affecting macroeconomic performance. Moody’s has SA on Baa2 with a negative outlook. Moody’s said in its note the South African poli...

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