Ratings agencies not convinced about SA’s economic recovery plan – so expect further downgrades

[BusinessTech]

Ratings agencies not convinced about SA’s economic recovery plan – so expect further downgrades

The recent credit ratings downgrades by Moody’s Investor Services and Fitch Ratings – which gives South Africa its lowest credit rating since 1994 - indicate that ratings agencies are not convinced that government’s proposed economic recovery plans have much substance to them, says Paul Marais, managing director of NFB Asset Management.

 

[Milano]

Not surprising since government has done everything in its power from its statements to its actions to its inactions to prove it has no genuine willingness to truly improve SA's credit rating in any decisively convincing manner.

 

[profa]

Things are really bad when Moody's is in on the further downgrade. Cheque probably bounced again.

 

[DreamKing]

because .....

anc's recovery plan == no plan.

 

[Flywheel]

because .....

anc's recovery plan == no plan.

ANC's recovery plan is like feeding a previous alcoholic a bottle of whiskey. The alcoholic says "See, what can go wrong? Everything is going perfect." Then the guy proceeds to destroy and rape everything in sight.

When he gets sober, he blames the whiskey for the damage.

 

[Bewlen]

Meh. Point of no return has been in the rear-view mirror for quite some time now.