Moody's to decide on downgrading SA

Treasury has announced that ratings firm Moody’s will be visiting South Africa this week to decide whether or not to downgrade the country's credit status to just one notch above sub-investment grade.

Treasury said in a statement:

"This review visit will primarily serve to either affirm the current ratings or downgrade them… Moody's will assess the views of various stakeholders in government, civil society, labour and in the private sector on a number of areas."

According to Treasury, while it meets with the ratings agency it will highlight its "collaborative actions" to accelerate inclusive growth, measures adopted in the 2016 budget to accelerate fiscal consolidation and give effect to the National Development Plan, steps taken to reinforce stable industrial relations, the accelerated implementation of its R870-billion infrastructure investment programme, and progress made in resolving the energy constraint, among other things.

  • Stay connected, up to date and in the loop on what is happening in the world of finance and keep track of newly published expert insights and interviews with CFOs and CEOs. Become an online member and receive our newsletter, follow us on Twitter, like us on Facebook and join us on LinkedIn.