Moody's, S&P to release latest SA ratings

File: South Africa has a sub-investment grade with all three major credit rating agencies. AFP/Emmanuel Dunand

JOHANNESBURG - Two credit rating agencies, Moody's and S&P Global, will publish their latest ratings for South Africa on Friday night.

There are fears the two agencies might further downgrade South Africa.

READ: Moody’s lowers SA growth forecast

Should that happen, the country will find the cost of borrowing money will increase.

South Africa has a sub-investment grade with all three major credit rating agencies.

This means they regard the country's ability to repay its debt as weak.

READ: S&P keeps South Africa on junk status

South Africa has failed to grow its economy in recent years.

The COVID-19 pandemic has worsened the situation.

Source
eNCA