SA investment grade rating on the line with Moody’s review

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The best outcome would be for the rating to remain unchanged at Baa3 after Friday's review.

The best outcome would be for the rating to remain unchanged at Baa3 after Friday’s review.

Fitch and S&P Global cut the country to “junk” status in 2017 amid concerns about its weak fiscal metrics and anaemic economic growth, but Moody’s still rates it at Baa3 with a stable outlook. Alternatively, Moody’s could leave the credit rating unchanged and merely change the outlook to negative. Peter Attard Montalto, head of capital markets research at Intellidex, wrote in a column published this week: “Moody’s … is quite clearly showing an excess of hope despite their framework being meaningfully shocked in October 2018 and now after the budget .

 

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