DA seeks answers from Moody’s over skipping SA rating review

The DA says Moody’s decision could lead to more uncertainty in the country’s investment market.

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

JOHANNESBURG - The Democratic Alliance (DA) says it has written to Moody’s asking for an explanation on why the rating agency opted not to announce South Africa’s sovereign credit outlook.

The no-show means the country’s rating will remain unchanged at baa3 with a stable outlook, at least for now.

The DA says Moody’s decision could lead to more uncertainty in the country’s investment market.

The party has also questioned why the agency has delayed it’s rating until after the elections in May.

DA finance spokesperson Alf Lees said: “By not saying anything at all it leaves the market is very uncertain, and we need some certainty. So, we’ve written to Moody’s to ask them for their reasons for not taking any actions and not making any announcement.”