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Moody’s says South Africa is on right track for rating upgrade
Moody's says South Africa is on right track for rating upgrade
South Africa is heading in the right direction for its first credit-rating upgrade by Moody's Ratings since 2009, provided the country's fiscal performance continues to improve.
The agency, which rates South Africa Ba2 — two notches below investment grade — revised South Africa's credit outlook to positive from stable in May. It says the country has reached an inflection point after stabilising its debt and delivering pro-growth economic reforms.
"We could upgrade South Africa's rating if fiscal performance continues to improve,"…
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