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Moody's credit downgrade likely

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Cape Town – South Africa will in all likelihood receive a credit downgrade from rating agency Moody’s, the agency said in a credit opinion note. 

“We would likely downgrade South Africa’s rating in the absence of growth recovery and more fundamental structural reforms that put the economy on a high and sustainable growth path.” 

Moody’s wants to see reform in among others the governance of state-owned enterprises, labour market flexibility and better market competition in network sectors.

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