Moody’s affirms SA credit rating, maintains negative outlook

Moody credit e1374140765400 Moody’s affirms SA credit rating, maintains negative outlook

Ratings agency Moody’s has affirmed South Africa’s investment-grade credit rating of Baa1, and maintained a negative outlook.

The credit rating was based on government’s commitment to fiscal discipline by ensuring the debt-to-gross domestic product stabilised below 45%, the National Treasury said in a statement today.

The rating was supported by the introduction of a macro prudential policy initiative aimed at strengthening financial market stability and a framework agreement for ensuring a stable labour market, particularly in mining.

The adoption of the National Development Plan also played a role.

“Government has taken proactive measures to address all the key concerns raised by Moody’s and remains committed to implement these measures,” the Treasury said.

The post Moody’s affirms SA credit rating, maintains negative outlook appeared first on City Press.

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