Moody’s was the last of the big three ratings agencies to give South Africa an investment-grade rating, so markets are sensitive to any pronouncement it makes on the fiscal and economic strength of Africa’s most industrialised economy.
JOHANNESBURG - Ratings agency Moody’s warned South Africa again on Tuesday that growing government debt linked to bailouts of state firms would continue to pressure the country’s investment grade status.
Moody’s last month postponed a review of South Africa’s creditworthiness, a reprieve that boosted the rand and local bonds.
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