Fitch says greylisting won’t hurt SA’s rating
Nedbank is concerned about the country being classified as high risk and facing a potential loss of investment
Even though SA faces the risk of being greylisted by the global money laundering and terrorist financing watchdog, the Financial Action Task Force (FATF), in February next year — joining the ranks of nations deemed to have inadequate protections — credit agency Fitch Ratings says the move is unlikely to change the country’s rating or ratings outlook.
“Judging by the fact of greylisting in other sovereigns [...] from our perspective, [it] will be quite unlikely that such a greylisting will have an impact that is sufficient to change the rating, or even the outlook on SA’s rating,” the head of the Middle East and Africa sovereign ratings team at Fitch, Jan Friederich, said last week at the Nedgroup investment treasurers’ conference...
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