South Africa
Moody’s again skips credit rating─── 07:08 Sat, 30 Mar 2019
Ratings agency Moody’s has again skipped issuing a much-anticipated assessment of South Africa's sovereign credit rating.
This means the country's credit rating remains unchanged at Baa3, the last rung of investment grade, with a stable outlook.
Fin24 reports that in a short note issued early Saturday morning, Moody's listed SA as one of seven issuers whose ratings were not updated.
It did not provide any reasons. Moody's is the last of the big three international rating agencies to not have downgraded SA to junk.
Rival ratings agencies Fitch and S&P both downgraded SA to sub-investment grade in 2017.
This is the second time in a row that Moody's has skipped a scheduled review of SA's sovereign debt.
The date of the next scheduled rating action is November 1, 2019.
