Moody’s backs Cyril Ramaphosa, but clock is ticking
The ratings agency awaits planned reforms
Moody’s Investors Service has given President Cyril Ramaphosa the benefit of the doubt but the clock is ticking for the implementation of his promised structural reforms if a later downgrade is to be avoided.
The credit ratings agency did not release a scheduled report on SA’s sovereign credit rating on Friday. SA’s debt is rated at Baa3 by the agency, one notch above junk status, with a stable outlook. Moody’s has two scheduled review dates a year but is under no obligation to issue a report.
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