National
Treasury welcomes Moody's decision on South Africa's credit rating─── 07:22 Sun, 08 May 2016
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Cape Town - National Treasury has welcomed Moody's decision to confirm South Africa's credit rating at two notches above junk status.
Moody's kept South Africa's credit rating at Baa2 but adjusted it from stable to negative.
In a statement, the ratings agency said the ratings reflect the view that the country is likely approaching a turning point after several years of falling growth. The negative outlook follows the implementation risks associated with the structural and legislative reforms that government, business and labour recently agreed on, in order to restore investor confidence.
Treasury's Anthony Julies has described the move as a positive one.
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