Moody’s affirms South Africa’s ratings
9 May 2016
Moody’s Investors Service (Moody’s) affirmed South Africa’s government bond long and short term ratings of ‘Baa2 / P-2’ respectively and assigned a negative outlook.
Moody’s is the only solicited rating agency that assigns the same rating for both the domestic and foreign currency denominated debt, Baa2 – a rating that is two notches above sub-investment grade.
The investment grade credit rating affirmation marks an end to the review period that started on 8 March 2016, when Moody’s placed the country’s ratings under review for possible downgrade.
There are three reasons for Moody’s to affirm the ratings: