Gordhan says Moody's decision gives SA time to change its ways

The Minister of Finance, Pravin Gordhan, on Monday said he welcomed the decision by Moody's Investors Service to not downgrade South Africa's credit rating.

Moody's adjusted the outlook for South Africa from stable to negative, but confirmed the country's credit rating has been confirmed at Baa 2.

Gordhan said Moody's decision has granted the country the necessary breathing space to change its ways and attract proper foreign direct investment.