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4 months ago
South Africa's new finance minister had "robust" talks with ratings agencies
April 1, 2017 / 10:35 AM / 4 months ago

South Africa's new finance minister had "robust" talks with ratings agencies

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Malusi Gigaba speaks near Johannesburg's Soweto township, South Africa, August 19, 2004.Juda Ngwenya/Files

PRETORIA (Reuters) - South Africa's new Finance Minister Malusi Gigaba said on Saturday he had had talks with ratings agencies Moody's and Fitch, which he described as "cordial and robust," and would later speak with S&P Global Ratings.

Analysts have said South Africa's investment grade credit ratings are threatened after the removal of his highly respected predecessor Pravin Gordhan.

Reporting by Mfuneko Toyana and Olivia Kumwenda-Mtambo; Writing by Ed Stoddard; editing by Alexander Smith

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