Moody’s

President, Cyril Ramaphosa, says rating agency Moody’s decision to downgrade South Africa to junk will not diminish in any way government’s response to the coronavirus pandemic. The country now has 1326 confirmed cases of the virus and three fatalities. Reports say the third victim is a man from the Free State. Addressing the nation last […]

Trade Union federation, Cosatu, says it is concerned that the country’s economic crisis is getting out of hand. Ratings agency Moody’s has cut the country’s 2020 growth forecast to 0.7 % from a September forecast of 1.5%. In a research report, Moody’s also attributed the scaled down forecast to the detrimental impact of the continued […]

Economist, Dante Mashile, says South Africans may face tough times following ratings agency Moody’s decision to cut the country’s 2020 growth forecast. According to Moody’s, the economy remains stuck in low gear due to lackluster domestic private sector demand. Moody’s now expects the economy to grow at zero point 7 percent this year after saying […]

Business Unity South Africa says South Africa needs drastic and fundamental action on key economic issues following rating agency Moody’s decision to change the country’s economic outlook from stable to negative. National Treasury has given the assurance that it is working towards lifting growth and returning public finances to a more sustainable path. Busa president, […]

Economist, Dawie Roodt, is concerned about Moody’s latest credit rating to South Africa. The agency changed the country’s outlook from stable to negative but affirmed the Baa3 long term foreign currency and local currency issuer ratings. It stated that the change in outlook reflects the material risk that the government will not succeed in arresting […]

The Congress of South African Trade Unions says it is not surprised by the rating agency Moody’s decision to downgrade South Africa to negative. The agency changed its outlook on the country’s credit rating from stable to negative but has affirmed the BAA3 long-term foreign and local currency rating. Finance Minister, Tito Mboweni, has acknowledged […]


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