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Moody’s: Platinum sector wage deal credit positive for SA

Moody’s rates SA’s debt at Baa2, with a negative outlook, and it is due to make its next ratings decision by the end of November.

Picture: Supplied

JOHANNESBURG – South Africa’s chances of avoiding a credit rating downgrade will be boosted by recent wage agreement between mine workers and the platinum sector’s largest producers, ratings firm Moody’s said on Monday.

“The agreement is credit positive for both South Africa and platinum mining companies because it avoids a strike and the loss of platinum production,” the agency said in a credit analysis.

Moody’s rates South Africa's debt at Baa2, two notches above sub-investment grade, with a negative outlook, and it is due to make its next ratings decision by the end of November.