Moody’s could lower South Africa

Moody's Investors Service said it placed the Baa2 bond and issuer ratings of the government of South Africa on review for downgrade.

Also placed on review for downgrade were South Africa's provisional Baa2/provisional P-2 shelf and medium-term note program ratings.

Moody’s said the decision to place the ratings on review was prompted by the continuing rise in risks to the country's medium-term economic prospects and to its fiscal strength, notwithstanding the tighter fiscal stance undertaken in the 2016/17 budget.

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