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Moody's has 'negative' outlook for SA

Business Live reports that ratings agency, Moody's has changed South Africa's government debt ratings outlook to 'negative' from 'stable' because of a perception of higher political risks and constrained public finances.

14 Nov 2011

The negative rating applies to the country's A1 foreign currency debt ceiling and its A3 foreign currency deposit ceiling.

The ratings agency, according to Business Live, says the reasons for the cut including the pressures and rising internal strains within the ANC and between it and its tripartite alliances with the Congress of South Africa Trade Unions and the Communist Party.

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