South Africa Reassures Investors as Moody's Downgrade Looms

  • Credit rating on review for downgrade to one level above junk
  • `We have never broked a fiscal promise,' Gordhan says

South African Finance Minister Pravin Gordhan moved to reassure financial markets that the government is serious about meeting its fiscal goals after Moody’s Investors Service said it’s reviewing whether to cut the nation’s credit rating to one level above junk.

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