Tag: ratings agency
Moody’s has given a negative outlook for sovereigns in Sub-Saharan Africa in 2019. The ratings agency says its outlook is anchored on the persistent credit challenges on on-going fiscal and external vulnerabilities in these economies. Daniela Re Franschini, Assistant Vice President in Sovereign Group at Moody’s joins CNBC Africa to discuss the details.
Moody’s did not publish the review on Friday as was widely expected.
Moody's downgrades the five largest South African banks to Baa3; outlook negative.
The negative outlook reflects the potentially adverse consequences of persistently low GDP growth for the public balance sheet.
"We have made tremendous progress on the labour instability issues," Cyril Ramaphosa said.
"If things deteriorate further it becomes difficult to continue believing that government can implement the things they say they want to.