Rating agencies don't want to upset Ramaphosa's path - analyst
In an interview with The Money Show's Bruce Whitfield, Dr Adrian Saville, CEO of Cannon Asset Managers, said South Africa had been "cut a lot of slack"."Capital markets have priced South Africa as if we’ve been taken into sub-investment grade…. They’ve been pricing us that way for some time."Whitefield also spoke to Chris Malikane, the associate professor of economics at the University of Witwatersrand.
Malikane weighed in ahead of the Moody's review. He agreed the country should have been downgraded by Moody's and added ratings agencies were more concerned about the politics of the country, namely the upcoming elections. "President Ramaphosa has announced bold policy statements that most of his predecessors had no political courage to do. Rating agencies would not want to upset the path he is taking."
He believes the markets will do well as long as the ANC wins the 2019 election and Ramaphosa remains the president of South Africa.Listen to the audio for more.
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