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Ramaphosa: Other ratings agencies must be convinced to review negative rating

On Friday Moody’s kept the country’s credit rating at investment grade, changing its outlook from negative to stable.

President Cyril Ramaphosa gives his response to the State of the Nation Address on 20 February 2018. Picture: Twitter/@PresidencyZA

JOHANNESBURG - President Cyril Ramaphosa says the decision by Moody’s not to downgrade the country’s credit rating is an opportunity for the government to face the other ratings agencies and convince them to review their negative rating.

On Friday Moody’s kept the country’s credit rating at investment grade, changing its outlook from negative to stable.

But Fitch and S&P Global previously downgraded the country to junk.

Speaking at the launch of the Youth Employment Service, Ramaphosa said the two international rating agencies must be convinced to review their decisions.

“But the greatest challenge that we face which we must confront is how we are going to make our country attractive to investors, to both local investors and foreign investors.”