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. …Read more South Africa Surprises by Overcoming the Odds, Avoids Downgrade.
Another ratings agency has “downgraded” South Africa, this time it’s S&P Global, while another Global ratings giant, Moody’s has placed the country on “review” to be downgraded. It is being thought that many ratings agencies will be looking closely into the hotly contested ANC elective conference in December as well as the annual budget speech…Read more S&P downgrades South Africa to “junk” while Moody’s places South Africa on “review” to be downgraded