Moody’s dubs SA’s Q1 GDP contraction credit negative

A sign for Moody's rating agency stands in front of the company headquarters in New York, September 18, 2012

A sign for Moody's rating agency stands in front of the company headquarters in New York, September 18, 2012

It also cut its forecast for the country’s 2019 economic growth to 1.0% from 1.3%.

South Africa’s first-quarter economic contraction has been labelled “credit negative” for government revenue and policy options by ratings agency Moody’s.

Moody’s is the last of the big three international credit firms to rate South Africa at investment grade.

It also cut its forecast for the country’s 2019 economic growth to 1.0% from 1.3%.

READ NEXT: Root causes of SA’s economic woes are political, not monetary, says Maimane

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