Moody's cuts SA by one notch
10 June 2017 - 11:09
Moody's Investors Service has taken a dim view of South Africa's political shenanigans, and cut the country's credit rating late on Friday by one notch to Baa3, just above junk status, and assigned a negative outlook, news which hit the rand hard.The main points raised were that the country's institutional framework and governance had materially deteriorated and were expected to affect economic growth.
This article is reserved for Sunday Times subscribers.
A subscription gives you full digital access to all Sunday Times content.
Please visit SundayTimes.co.za in your desktop to view our latest subscription options.
Already subscribed? Simply sign in below.
Sign InQuestions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.