National
Moody's keeps SA at investment grade─── 10:00 Sat, 24 Mar 2018
Johannesburg - Ratings agency Moody's has kept South Africa's sovereign debt at above investment grade, and changed its outlook to stable.
The announcement was made at 23:35.
The agency says that the confirmation of South Africa's ratings reflects Moody's view that the previous weakening of South Africa's institutions will gradually reverse under a more transparent and predictable policy framework.
The recovery of the country's institutions will, if sustained, gradually support a corresponding recovery in its economy, along with a stabilisation of fiscal strength.
If Moody's had downgraded the credit rating on SA's debt, the country would have automatically been removed from the Citi World Government Bond Index, forcing asset managers to sell SA bonds. This would have resulted in billions of rands leaving the country.
