JOHANNESBURG - Moody's says it expects economic growth to pick up modestly this year to 1.3% and is keeping its rating at BAA3, one level above sub-investment grade.It now says the current rating off BAA3 is supported by a diversified economy, a sound macro-economic policy framework and a deep pool of domestic investors.
This is good news for government, which has been battling to convince ratings agencies that there is economic change.
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