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Political infighting a risk to SA's credit rating - Moody's

President Zuma and Finance Minister Pravin Gordhan are locked in a battle over spending at parastatals.

FILE: A sign for Moody's rating agency stands in front of the company headquarters in New York in 2012. Picture: AFP.

JOHANNESBURG - Moody's is warning that political infighting, weak economic growth and mounting debt at state-owned companies all pose a risk to South Africa's credit rating.

Moody's, which currently rates the country two notches above sub-investment grade, says its negative outlook reflects "wide and rising political divisions that generate policy uncertainty and impede structural reforms".

Political and financial analysts have warned over the power struggle between President Jacob Zuma and Finance Minister Pravin Gordhan over spending at state-owned companies and plans for a multi-billion-dollar nuclear power programme.

However earlier this week Zuma denied there was a "war" between the Presidency and the National Treasury.