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Cyril upbeat over Moody's decision

09 May 2016 - 09:10 By TMG Digital

Deputy President Cyril Ramaphosa has welcomed Moody's rating decision to maintain its Baa2 sovereign rating for South Africa with a negative outlook, heralding the fact that it had not downgraded the country as "great news"."We are very pleased with Moody's report where they have kept our rating status as is. Many people were thinking that they would downgrade us, now they haven't, and that is a great success for us because that shows what we can achieve when we work together," Ramaphosa said."We have to congratulate our Treasury for having led the charge working together, as well as other organisations, trade unions, business, civil society."It was very pleasing to see them travel to the investors overseas as a united team, going to sell South Africa and explain everything about our country. So it is great news and great success."But it is not over yet because there is another rating that is coming and this is when we must work harder and unite and demonstrate that South Africa is solid, it is stable and that we are a worthy investment destination," he cautioned. ..

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