# Credit ratings agency Moody’s says it could upgrade South Africa’s rating if fiscal performance continues to improve. In May, the agency revised the country’s sovereign credit rating outlook from stable to positive, while affirming its domestic and foreign-currency long-term ratings at Ba2. Moody’s vice president Evan Wohlmann says the baseline forecast was for debt that peaked in the last fiscal year at 87-percent of gross domestic product to gradually decline to 84-percent of GDP by the end of the decade, supported by an uptick in economic output.
Moody’s says South Africa is heading in the right direction for a credit-rating upgrade