Moody's will not publish S.Africa ratings decision on Friday - Treasury

Moody's will not publish S.Africa ratings decision on Friday - Treasury
A Moody's sign is displayed on 7 World Trade Center, the company's corporate headquarters in New York
JOHANNESBURG (Reuters) - Ratings agency Moody's will not publish a ratings decision on South Africa on Friday as scheduled, the Treasury said, as the firm had already made two changes to the country's debt status.

"They wont be making an announcement today ... They have made two announcements already so they did not see a reason for them to have a review committee because things haven't changed," said the National Treasury's chief director for strategy and risk Mampho Modise.

In June Moody's cut South Africa's debt by a single notch to Baa3, one level above subinvestment, with a negative outlook after President Jacob Zuma abruptly fired Pravin Gordhan as finance minister.

(Reporting by Mfuneko Toyana; editing by Andrew Roche)

2017-08-11 19:31:37

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