Analysts at TD Securities point out that Moody's is due to review South Africa's sovereign rating - the FC and LC debt ratings are both Baa3 with a stable outlook.
“The other two agencies have sub-investment grade ratings on both the FC and LC debt. In its March review, at which the rating was left unchanged but the outlook moved to stable from negative, Moody's said the recovery of institutions in South Africa would, if sustained, kick-start the economy as well as provide a stabilization of fiscal strength. This is a process which is currently underway and we think that Moody's will keep the rating and outlook unchanged, in spite of some disappointing growth data since the March review.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.