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Rating agency Moody’s head office building.
Moody’s Ratings has kept South Africa’s credit rating unchanged at Ba2 with a stable outlook.
It has been noted that South Africa’s ratings, including its Ba2 long-term issuer rating, reflect the country’s low growth potential.
This is due to ageing infrastructure, a weak labour market and socioeconomic inequalities that complicate policy efforts and fuel social tensions.
According to Moody’s, state-owned enterprises have continued to pose a risk to the fiscus.
However, Moody’s has recognised some economic resilience coming through in the country in 2025. It has also noted the progress made during this year in terms of structural reforms around energy and logistics.
The ratings agency says it will be looking closely at the country’s economic growth levels and the sustainability before making any moves on the rating in future.
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