Davos — SA’s investment-grade credit rating with Moody's is not at risk, Reserve Bank governor Lesetja Kganyago said on Friday. Moody's is the only major credit rating agency to still classify SA’s long-term foreign-currency debt as investment grade, though it has recently highlighted some concerns over the economic and fiscal outlooks. Moody's maintains a stable outlook for the rating but in October it cited a weaker fiscal outlook as a credit negative. This month, it said Africa's most industrialised economy would recover slowly this year. “I have not seen anything that is credit-negative that has developed since Moody's last pronouncement on our credit rating,” Kganyago told Reuters at the World Economic Forum in Davos, Switzerland. “(Nothing) has developed that would lead us to say the following risks have materialized and as such the rating is at risk,” he added. SA officials have been at pains to reassure investors in Davos that the economy has turned a corner after nine years...
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