Ratings agency adopts a wait-and-see approach, with a report now only likely after the general election on May 8
Moody’s Investors Service surprised the market early on Saturday morning when it decided not to release a report on SA’s sovereign credit rating.
“The surprise decision by Moody's not to update SA's sovereign credit rating at this stage is welcome, as it gives the country further breathing space to get its economic and fiscal house in order,” North West University Business School economist Raymond Parsons. “What it also shows, however, is that the fact Moody’s will have been shown some kind of plan on their trip [to SA] in recent weeks and in their discussions with the government have been held in their status quo — so hats off to National Treasury.”
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