South Africa: SA Sovereign Credit Rating Safe Despite Recession - Moody's

Johannesburg — MOODY's Investors Service said yesterday there was no danger of a downgrade to SA's sovereign credit rating, as state finances were sound and the economy resilient, despite the country having joined the global recession.

"In my view, there is no danger of a downgrade of SA's foreign currency rating at the moment - the country's susceptibility to event risk is low," the rating agency's senior vice-president, Kristin Lindow, said .

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