The Moody’s Rating Agency has downgraded the country to a level which means that the country is currently at the lowest investment level.
The rating to BAA3, as well as the view that the country’s position is considered harmful, is not good news for the country.
Together with the country’s recession, for the first since 2009, is it further bad news for the country’s business sector.
Moody’s downgrade has led the country to drop to a level above junk status. However, two other agencies have already downgraded the country to junk status. The fact that Moody’s forecasts are negative is indicative that they will probably declare the country junk status on a next occasion unless drastic changes are made.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
