South African markets get short-term boost from Moody's reprieve | IOL Business Report

JOHANNESBURG - The South African rand and government bonds surged on Monday after ratings agency Moody’s kept the country’s last investment-grade credit rating intact to the relief of investors, but many were sceptical how long the rally would last.

Late on Friday, Moody’s kept South Africa’s sovereign debt at Baa3, the lowest rung of investment grade, but revised the outlook to “negative,” citing a deterioration in the economic growth outlook and rising debt. A negative outlook usually means there is a window of 12-18 months in which a downgrade could be delivered, but Moody’s said a credible budget statement in February would be crucial to maintain the current rating.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Springboks thank South Africans for their support - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Springboks have sent a special message home thanking their fellow South Africans for their unwavering support during the Rugby World Cup tournament. They should thank the whole continent 😋 Is South Africa really changing as a nation? Bokke won the Ellis cup and the country unite RWC2019Champions Amazing... However, can we see the same happening in the bafana bafana team. Support, unity, and gees
Source: SABC News Online - 🏆 32. / 51 Read more »