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Moody's refuses to release a ratings review of South Africa

11 August 2017 6:26 PM
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Moody's refuses to release a ratings review of South Africa

The agency believes that SA has not had any real major events, that would require a review.

In June the rating’s agency downgraded South Africa’s rating and assigned a negative outlook.

Mamello Matikinca, FNB Senior Economist said earlier in the day that, “Moody’s currently has the country’s local and foreign currency at investment grade Baa3 (negative outlook) and we don’t expect any downgrade from today’s release given how recent the previous downgrade was, and just how little has changed since then.”

“We do, however, expect that they will have to reduce their growth expectations for the country which was pegged at below 1% and 1.5% for this year and 2018 respectively.”

Moody’s assess both South Africa’s rand-denominated debt at investment grade, as well as foreign-currency.

Moody's will on Tuesday release a credit opinion, assessing the SA's economy, according to ENCA.

Also read: Terrifying moment a lion starts EATING a car as it drives through safari park in South Africa

Source: iol.co.za

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