Moody’s downgrades SA to junk
Moody’s dropped SA’s rating to Ba1, with the outlook remaining negative, bringing it in line with peer agencies Fitch and S&P Global
28 March 2020 - 00:06
UPDATED 28 March 2020 - 01:12
Moody’s Investors Service flipped the switch late on Friday night, downgrading SA to junk status, coinciding with the country’s first full day of a three-week lockdown aimed at slowing the spread of the coronavirus.
The move was expected in the face of SA’s poor GDP growth performance and fragile fiscal position, even before the onset of the pandemic...
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