Downgrade in March more likely after Moody’s cuts SA growth forecast
Decision to lower growth projection to just 0.4% is negative for the ratings outlook, said PwC economist Christie Viljoen
08 March 2020 - 18:44
The cut to SA’s growth forecast by Moody’s Investors Service in the wake of the coronavirus is intensifying the pressure on SA to hold on to its last investment-grade credit rating.
Moody’s, the last credit ratings agency to hold SA debt at investment grade, lowered its growth forecast for SA for the second time in less than a month on Friday. The move came as it made cuts across the Group of 20 (G20) countries due to the disease’s continued global spread. ..
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