Given the recent spate of violence and disruption in South Africa, UASA is pleasantly surprised with international ratings agency Moody’s to keep the country’s rating the same and the provision of an 18-month window to get its fiscal and growth numbers in order.
SA’s sovereign debt has the lowest investment grade by Moody’s, at Baa3 with a stable outlook. A further downgrade could have sent our economy tumbling.
Moody’s said for South Africa to keep its rating, the prospects for improvement should remain strong.
UASA hopes Moody’s decision serves as a wake-up call to all South Africans that we must pull ourselves together and work towards recovering the economy.
For further enquiries or to set up a personal interview, contact Stanford Mazhindu at 074 978 3415.