in Short

Moody’s cuts South Africa’s rating to junk status

After having downgraded its sovereign debt rating to junk status at the end of March, the
rating agency Moody's reduced its growth forecasts for South Africa with an expected
contraction of GDP of 2.5% in 2020, in the wake of the economic crisis linked to the Covid-19
epidemic. Fitch and S&P Global Ratings also classify South Africa in the speculative category.

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