Moody’s Leave Credit Rating Unchanged
International ratings agency Moody’s were recently due to announce an updated rating for SA’s Credit Status (Foreign Currency & Rand Denominated Debt) but decided not to do so at the end of last week.
‘ just one notch above “junk”‘
Two months ago, Moody’s decided to cut SA’s credit rating to just one notch above “junk” or don’t invest status. There was fear that the rating would drop this month. In something of a surprise move, Moody’s decided not to release a new ratings review after what can only be described as a politically busy week. The reason they have given is that the country has not had any significant events which would warrant a review.
This week will see Moody’s (in theory at least) release a credit opinion which assesses SA’s economic outlook.