Traders, investors nervously await Moody’s rating on SA
Moody's is the last of the three big ratings agencies to keep the country in positive territory.
JOHANNESBURG - Traders and investors are nervously awaiting the decision by Moody’s as to whether the rating agency will keep the country at investment grade.
Moody's is the last of the three big rating agencies to keep the country in positive territory.
With government hoping that Moody’s will keep the country above junk status, some economists said the agency may change the outlook from stable to negative.
Finance Minister Tito Mboweni painted a bleak picture of the country's economy on Wednesday, which may have sent a signal to rating agencies to give South Africa the thumbs down.
S&P Global and Fitch already have the country in sub-investment grade.
The rand remained firm on Friday but is still above R15 to the dollar.
An announcement by Moody's is expected on Friday evening.