Moody’s bemoans SA’s ‘increasingly’ constrained finances amid slow progress on reforms
The ratings agency, which has SA one level below investment grade with a negative outlook, does not anticipate an upgrade in the near future
Moody’s Investors Service says SA’s rating is “increasingly constrained” by its worsening fiscal position and weak economy.
The ratings company, which, in March, became the last of the top three to move SA into non-investment grade, gave a generally gloomy assessment of the country’s prospects. It has SA one level below investment grade with a negative outlook, meaning the next move is more likely to be down than up.