While it is unclear if the Treasury had any representatives at the Moody’s Investors Service conference in Sandton on Tuesday, they would have broadly welcomed what was said.

The big takeaway is that though there is a degree of disappointment in the pace of reform, Moody’s, the last big ratings agency to have an investment-grade rating for SA, has yet to lose patience — so much so, that we can take it as a given that there will not be a downgrade anytime soon...

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