SA set for more credit rating downgrades

Johannesburg – South Africa’s credit rating may be cut to just above junk by Fitch Ratings next month after Moody’s Investors Service lowered it yesterday, risking higher borrowing costs, Nomura International said.

Moody’s cited slower growth and rising debt levels as it reduced the nation’s rating one step to Baa2, the second-lowest investment grade.

That leaves Moody’s in line with Fitch and one notch above Standard & Poor’s.

Fitch, which reviews the country’s rating in December, has a negative outlook.

South Africa’s economy is set to grow this year at the slowest pace since 2009 amid labor strikes and a power shortage…

Read More

South Africa Today – South Africa News

Disclaimer: The views of authors published on South Africa Today are their own and do not necessarily represent the views of South Africa Today. By viewing, visiting, using, or interacting with, you are agreeing to all the provisions of the Terms of Use Policy and the Privacy Policy.