Chief Economist says Moody’s signals growing confidence in SA [SOUND]

# Momentum Investments’ Chief Economist, Sanisha Packirisamy, says Moody’s Ratings revised South Africa’s sovereign rating outlook from stable to positive, while affirming the credit rating at Ba2. She says the outlook upgrade reflects improving fiscal performance and structural reforms that are stabilising debt and supporting an economic recovery since 2007, despite a global slowdown. However, Packirisamy says Moody’s maintained the Ba2 rating to reflect that South Africa’s economic fundamentals remain relatively weak and the improvements are still in their early stages: