Moody’s says South Africa credit rating well placed

South Africa’s credit rating is well placed at the lowest investment grade, but rising foreign ownership of the government’s local-currency bonds is a risk, a senior analyst at Moody’s ratings agency said. Two of the three large international ratings agencies – S&P Global and Fitch – downgraded South Africa’s foreign-currency rating to speculative grade, or "junk" status, this year after the economy slowed and an abrupt Cabinet reshuffle in March.