- Sep 25, 2012
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.
Although the credit rating agency was scheduled to make an announcement, it can delay releasing a report, and then make a move on an unspecified date, as it did in November 2018
Attard Montalto said the possibility of a post-elections [Moody’s] committee and assessment, however, is high, as could also be a change of analyst after elections. “We still believe that with a deficit that will not consolidate below 4% of GDP, will not reach primary balance, and with growth not above 2%, a downgrade is inevitable.”
“So overall we still see a cut out there, just way off beyond the forecast horizon for now without a major shift not just in view but way of forming a view, within Moody’s,” he concluded.