South Africa measures favourably in most indices bar economic growth, which the Treasury has forecast will be 0.5 percent this year, a Moody’s representative said on Tuesday.
“South Africa is doing relatively well in a lot of the indices when you strip out growth … and when we look at a sovereign rating you’ve got to look through the cycle,” Moody’s country representative Sylvia Chahonyo told a business conference.
Moody’s rates South Africa two notches above subinvestment grade with a negative outlook and is due to publish its next review in December.