Moody’s decides not to update S.A’s rating provides reasons for what would cause downgrade

While South Africa’s (Baa2 negative) government has consistently met its expenditure ceilings and is close to bringing the primary fiscal balance into surplus, low growth, revenue shortfalls and in some years the weakening rand are driving an increase in government debt to GDP ratios, Moody’s Investors Service said in a report today. The report, “Government…