Moody's downgrades South Africa to 'junk' status - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The ratings firm downgraded the rating one notch to ‘Ba1’ from ‘Baa3’ and maintained a negative outlook, meaning another downgrade could follow if the economy performs worse or government debt rises faster than expected.Moody’s said the main driver behind the downgrade was “the continuing deterioration in fiscal strength and structurally very weak growth”.

Moody’s left South Africa on the brink of junk in November after it revised the outlook on its rating to negative following a bleak mid-term budget.

Where's the Rbillions that Ramaphosa promised? I hope ANCriminals and ANCrooks government doesn't sell us to capitalist foreigners. Let's focus on fighting death on our doorstep which clearly was brought about by the wealthy. I invite anyone to prove me wrong on the latter.

We shall overcome. We are in capable hands of CyrilRamaphosa and tito_mboweni

😓

Dear Mr PresidencyZA now is the time to be as decisive as you have been with COVID-19 with economic reforms and getting rid of the Zuma RET Faction. All the evidence is there. You just need to act on it. Please. We will stand with you.

Never rain but pours

Give us a break while we find our way out of the current pandemic. We will talk about your bias and opportunistic ratings when our lives are no more in danger of COVID-19 please

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