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Cabinet calls for 'united front to protect SA investment status'

The finance ministry, together with business leaders, has been working to avert a possible credit rating downgrade to junk status.

Moody’s is one of the international ratings agencies that will, in the coming weeks, announce their decision on SA’s credit rating. Picture: Facebook

CAPE TOWN – Cabinet has called for a united front as international credit rating agencies prepare to assess South Africa’s credit-worthiness.

The finance ministry, together with business leaders, has been pulling out all the stops in a bid to avert a possible downgrade to junk status.

Minister in the Presidency Jeff Radebe says international ratings agencies Moody’s, Fitch and Standard & Poor's will, in the coming weeks announce their decision.

“Our government has been working with business society and labour to translate our country’s plans into concrete actions that will ensure South Africa remains an investment grade country. Government calls all sectors to join government in a united front to protect the country’s investment status.”

(Edited by Masechaba Sefularo)