Recession-hit SA faces Moody’s downgrade threat
The ratings agency halves growth forecast for the country and says its economic contraction is a credit negative
The first recession in almost a decade could cost SA its remaining investment-grade rating, with disastrous consequences for the country and consumers who are already under strain from tax increases and near-record petrol prices. Moody’s Investor Service on Thursday halved its 2018 growth forecast for the country and said economic contraction in the first six months of the year was a "credit negative". If you are already a subscriber, please click on the following link below to go to the full article: Distressed SA faces Moody’s downgrade If you would like to subscribe to BusinessLIVE Premium to read the full story, please click here .