THURSDAY, 8.30AM
THE US rating agency Duff & Phelps, considered the third most influential in the country, has rated South Africa “investment grade” which should immediately improve South Africa’s standing in the US. One of the other “big three” investment agencies, Moodies, gave SA an “investment grade” rating several months ago.
The finance ministry was quick to welcome the rating as a vote of confidence in South Africa’s policy, and noted that certain key US investors, such as insurance funds, are only allowed to invest abroad in countries that have two investment gradings from accredited US agencies.