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WATCH: A stay of execution from Moody’s
SA has managed to buy a bit more time with Moody’s as the agency rated the country’s foreign and local currency debt on its lowest investment grade rung of Baa3. But the decision is as close as you can get to a downgrade without being downgraded. Stanlib chief economist Kevin Lings says that if there is insufficient evidence of government implementing the necessary economic reforms, Moody’s will downgrade SA to junk in the first few months of 2018. Zuzana Brixiova, vice-president and lead sovereign analyst for SA at Moody’s, tells Business Day TV why the ratings agency decided to keep SA at investment grade for now. OR LISTEN TO THE AUDIO:
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