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RATING agency Moody's seem to be willing to cut South Africa some slack as they once again review the country’s investment grade status over the next few months.

Clearly, the very sober way in which Pravin Gordhan – and others in Cabinet – have  grasped the severity of a potential downgrade has assisted Moody’s in realistically assessing prospects for recovery.

Rating agencies now have huge impact on countries they assess, which poses an internal dilemma to themselves.

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