SA’s future – Moody’s sees fundamental Mining shift, little light on horizon
There is little light on the horizon in the mining sector and it is unlikely to return to normality for years to come, said rating agency Moody’s Investors Service.
There is little light on the horizon in the mining sector and it is unlikely to return to normality for years to come, said rating agency Moody’s Investors Service.
Ratings agencies don’t make it easy on us by relying heavily on their insider’s jargon. But at least they do telegraph credit rating adjustments well ahead of time.
Fitch Ratings decided to downgrade South Africa’s international credit rating from BBB to BBB-, but changed its ratings outlook from negative to stable.
Maybe the next step in the path to destitution – a downgrade to junk status of SA Government debt – will ring the alarm bells loud enough to spark corrective action.