Moody's hands Ramaphosa lifeline as markets rally

sparked the rand’s strongest rally in three months on Monday

A downgrade by Moody’s could have seen South Africa booted out of investment-grade bond indices including Citigroup’s World Government Bond Index, which would have sparked forced selling of a much as $1bn of the debt, according to Nomura International. Instead, South Africa may now ride a wave of improving investor sentiment by tapping into the Eurobond market for the first time in nearly a year.

Fin24 The job of Moody's is to report on market status for investment purposes, not influence the market. Fail.

LizahnDe Fin24 He won’t do the same.

Fin24 getridofmagashule Get rid of Ace! Save your party! Save our country!! CyrilRamaphosa MYANC Magashule_Ace

Fin24 But the corrupt cadres of the ANC will fuck it up.

Fin24 This Moody should have made a ruling and down grade if they have too. This thing of being made to wait or favors I don’t like it.

Fin24 “Moody hands....” maybe?

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