SABC News - “Moody’s move on SA credit rating not surprising”:Saturday 12 August 2017

“Moody’s move on SA credit rating not surprising”

Saturday 12 August 2017 09:36

SABC

Moody's informed Treasury that no statement will be released on its reviews of South Africa’s credit rating.

Moody's informed Treasury that no statement will be released on its reviews of South Africa’s credit rating. (REUTERS)

Economist Azar Jammine says there's nothing surprising about ratings agency Moody's decision to leave South Africa's credit rating at investment grade.

On Friday night, the agency was due to announce a review of the country’s credit rating which it currently has at one notch above sub-investment, or junk status.

However, it's being reported that Moody's has informed Treasury that no statement will be released.

This means the credit rating remains unchanged.

Fitch and Standard & Poor’s downgraded the country down to junk status earlier this year.

This followed President Jacob Zuma's cabinet reshuffle in March, in which he fired Pravin Gordhan as Finance Minister.

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