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Moody’s set to release review of SA debt

In June, Moody's cut its rating to one notch above junk status with a negative outlook.

Picture: EWN.

JOHANNESBURG - South Africans are eyeing international ratings agency Moody's on Friday afternoon. The agency is expected to release its review of the country's debt later on Friday.

In June, Moody's cut its rating to one notch above junk status with a negative outlook.

Senior Economist at FNB Mamello Matinca believes we'll escape a further downgrade this time round.

“The last assessment was only two months ago in June. I think given how recent it is, the agency may opt not to do anything today because the environment hasn’t really deteriorated significantly enough to warrant an adjustment to their ratings outlook.”

The anticipation is keeping the rand near the one month low that it hit after the motion of no confidence in President Jacob Zuma failed to carry on Tuesday.

(Edited by Zinhle Nkosi)