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Investors see South Africa dodging a downgrade by Moody’s

Credit-default swaps down to a five-year low.

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.

© 2018 Bloomberg 

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Enjoy the holiday guys… it’s going to be a short one!

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