Investors See South Africa Dodging a Downgrade by Moody's

Investors are betting South Africa will escape a fourth credit-rating downgrade in less than a year. The cost of insuring the country’s sovereign debt against default for five years using credit-default swaps fell to a five-year low Monday. Moody’s Investors Service is reviewing the nation’s assessment later this month after cutting the debt one level in June, following downgrades by S&P Global ratings and Fitch Ratings in April.

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