Moody’s expected to review SA credit rating

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Moody’s is on Friday expected to review South Africa’s credit rating, taking into account the growth prospects of the economy.

Moody’s has forecast economic growth of 1.3% for this year and 1.5% for 2020, lower than the Treasury’s growth projection of 1.5 and 1.7%.

Moody’s is the only credit ratings agency who hasn’t yet downgraded South Africa’s credit rating to sub-investment grade, or junk status.

Standard & Poor’s and Fitch have rated South Africa below investment grade since 2017.

A Reuters poll of economists expects Moody’s to cut South Africa’s credit outlook to negative from stable but keep the credit rating one notch above sub-investment grade.

The decision is expected after the close of the JSE.