Chances of downgrade for SA are low-Moody's

SAfm — Ratings agency Moody's says due to the country's stable outlook, there is little chance of credit rating downgrade later this year. The rating agency is hosting its Sub-Saharan Africa summit in Sandton, Johannesburg and it is the only ratings agency still holding South Africa above junk status. Responding to questions from the media, Moody's Senior Credit Officer Lucie Villa cautioned that a commitment to fiscal consolidation at the October budget would be key to maintaining the positive rating.