WATCH: What SA needs to do to avoid Is a downgrade to junk

Moody’s Investors Service has revised SA’s outlook to negative from stable, while affirming the country’s rating at Baa3.

The move cheered the markets with an initial rally in the rand, but looking at the detail of the Moody’s report it shows that a lot of work lies ahead for SA if it is going to avoid a downgrade.

Jones Gondo from Nedbank CIB joined Business Day TV to discuss the Moody’s report.