Credit ratings firm Moody’s Investors Service kept South Africa’s sovereign rating unchanged at Baa2 on Friday, two levels above subinvestment grade, with a negative outlook. Africa’s most industrialised country, which is expected to see economic growth of around 0.5 percent half a percent this year, has been trying to avert a sovereign rating downgrade to junk status that would raise borrowing costs and deter investment.
Source: www.engineeringnews.co.za
Moody’s keeps South Africa’s sovereign rating, with negative outlook
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