Knight Frank encouraged by Moody's stable credit outlook announcement
Category Business & Finance
Knight Frank welcomes ratings agency Moody’s recent announcement that it has revised South Africa’s credit outlook to stable from negative as well as maintaining the country’s investment-grade credit rating due to economic and political institution-level improvements since December 2018.
Late Friday 23 March 2018 Moody’s released a statement saying South Africa’s sovereign rating would remain at Baa3 - sub-investment grade - and that the country’s fiscal strength and investment prospects are expected to slowly-but-surely improve with the ushering in of a “more transparent and predictable policy framework".
Fin24 reports that National Treasury has responded optimistically to Moody’s decision and that government will continue working hard to improve South Africa's investment and economic prospects.
Last year’s credit rating downgrade by both Standard & Poor and Fitch seems to have served as a wake-up call to politicians, the business community and the South African public to get the country’s economy and investor confidence back on track.
These reassuring developments should be seen in a positive light by Knight Frank investors, according to Susan Turner, Knight Frank Managing Director. “It shows a general positive move for South Africa, and it is also reflected in the strengthening of the Rand, which will encourage property investment from both local and foreign buyers," says Turner.
Author: Knight Frank
