Cut spending or raise taxes to fund Eskom bailout, says Moody's
The credit ratings agency says in a brief note it expects the government to either cut spending or raise taxes to fund the power utility's bailout
Credit ratings agency Moody’s Investors Service issued a brief comment on SA on Thursday, saying that it expected the government to either cut spending or raise taxes to fund the bailout of Eskom.
SA depends on Moody’s to retain its investment grade rating as it is the only agency that still rates the country’s debt as investment grade. A decision by Moody’s is due on November 1.