SA received a reprieve from Moody's on Friday night, with the agency remaining the most generous of the big three credit rating agencies in being the only one to still rate both foreign- and local-currency South African government bonds as "investment grade". As expected, Moody's placed SA's rating on review for a downgrade. Moody's maintained its sovereign rating for SA at Baa3, which equates to BBB- in S&P's and Fitch's nomenclature. This is one rung above junk status.