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While the outlook for global sovereign creditworthiness in 2019 is stable, weak emerging markets such as SA could face greater risks, ratings agency Moody’s Investors Service has warned. The sovereign credit ratings of countries around the world face rising external challenges such as tightening global financial conditions, shifting capital flows, higher oil prices and disruptions to trade flows, Moody’s said in a report on Tuesday. “Key fundamentals — growth prospects, indebtedness, domestic and external imbalances, and institutional strength including the capacity and credibility of policy makers — will determine individual sovereigns’ resilience to these shocks,” reads the report. In the report, Moody’s said that SA, along with Turkey, Argentina and Brazil, is in the limelight because of varying combinations of external exposure, weak institutions, unpredictable domestic politics and geopolitical risk. “Among the sovereigns most directly affected by the recent volatility in inter...

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