The Moody’s mystery is how South Africa’s rating held up so long
JOHANNESBURG – For a quarter-century, South Africa has been able to count on an investment-grade rating from Moody’s Investors Service.
Bond buyers may be forgiven for wondering why.
Financial markets have been pricing in a downgrade for months, and the other two major rating companies have had South Africa at junk status for two years. Should Moody’s follow suit, the nation would suffer enormous financial consequences.
Source: iol.co.za
