Rand slips to worse than R14.15/$ after warning by Moody’s
Moody's says the lack of a turnaround strategy for Eskom to be more financially stable ‘exacerbates’ the government's problem
26 July 2019 - 10:48
The rand was weaker on Friday morning, breaking through R14.15 against the dollar, after credit ratings agency Moody's Investors Service warned that the R59bn bailout for Eskom was credit negative for SA.
Moody's, the only major ratings agency that has not downgraded SA to sub-investment grade, said in a statement on Thursday that the government would struggle to absorb the cost of funding the troubled power utility...
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