South Africa Surprises by Overcoming the Odds, Avoids Downgrade.

Ratings agency Moody’s on Friday night kept South Africa’s sovereign debt at above investment grade, and changed its outlook to stable.


“The recovery of the country’s institutions will, if sustained, gradually support a corresponding recovery in its economy, along with a stabilization of fiscal strength.” the agency said in a credit rating announcement.


National Treasury in a statement welcomed the decision, saying government was working to improve the country’s investment and economic prospects by providing policy certainty. “The rating action by Moody’s demonstrates that South Africans working together can achieve remarkable outcomes,” National Treasury said.






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