Moody’s calls for policies that tackle SA’s credit challenges

Moody's said it expects the government to move forward with policies that tackle SA's credit challenges

5/16/2019

Moody's said it expects the government to move forward with policies that tackle SA's credit challenges

Moody's analyst says SA's credit rating remains at risk without effective policies to reverse low growth, steadily rising debt and leveraged state-owned enterprises

Just a week after the ANC's victory in the election, credit rating agency Moody's Investors Service said it expects the government to move forward with policies that tackle SA's credit challenges.

"We expect that the government will continue to pursue greater control of corruption or 'state capture' and reform policy, which will support a gradual recovery in growth," she said, adding that reform measures include easing visa regulations and reducing barriers to entry for companies through the enforceability phase of the Competition Amendment Act.

"Fading prospects of policies that will sustain fiscal and economic strength, alongside any signs of diminishing resilience to shocks, would put downward pressure on the country's rating," Villa said.

Moody's is the only major ratings agency that has not downgraded SA’s sovereign debt to subinvestment level. SA’s debt is rated at Baa3 by the agency, one notch above junk status, with a stable outlook.

Read more: Business Day

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