Moody’s says SA needs better growth expectations to upgrade rating

Business

Johannesburg – Ratings agency Moody’s says it will consider upgrading South Africa’s credit rating if its growth expectations improve.

Moody’s recently upgraded its outlook on the country’s credit rating from negative to stable.

It cited high commodity prices which resulted in more corporate tax revenue into government coffers.

Reliable electricity supply remains problem, and Moody’s says business confidence will not be restored fully if the power problems are not remedied.

Moody’s is among three ratings agencies which have placed South Africa on sub-investment grade.

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