Moody’s pushes back South Africa credit rating decision

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Moody’s pushes back South Africa credit rating decision

8:07 CAT | 04 Apr 2017

A Moody's sign on the 7 World Trade Center tower is photographed in New York August 2, 2011. REUTERS/Mike Segar

Reuters / A Moody"s sign on the 7 World Trade Center tower is photographed in New York August 2, 2011.

Moody’s said on Tuesday it will not issue a sovereign credit rating decision on South Africa this Friday, as previously planned, but will do so after a review that could take 30 to 90 days.

Moody’s announced on Monday that it had placed South Africa on a review for a downgrade after a cabinet reshuffle that saw a respected former finance minister dismissed from his post.

Moody’s currently has South Africa’s sovereign at two notches above non-investment grade at Baa2.

Source: Reuters