August 11, 2017 / 5:32 PM / in 2 months

Moody's will not publish S.Africa ratings decision on Friday - Treasury

JOHANNESBURG (Reuters) - Ratings agency Moody’s will not publish a ratings decision on South Africa on Friday as scheduled, the Treasury said, as the firm had already made two changes to the country’s debt status.

A Moody's sign is displayed on 7 World Trade Center, the company's corporate headquarters in New York, February 6, 2013. REUTERS/Brendan McDermid

“They wont be making an announcement today ... They have made two announcements already so they did not see a reason for them to have a review committee because things haven’t changed,” said the National Treasury’s chief director for strategy and risk Mampho Modise.

In June Moody’s cut South Africa’s debt by a single notch to Baa3, one level above subinvestment, with a negative outlook after President Jacob Zuma abruptly fired Pravin Gordhan as finance minister.

Reporting by Mfuneko Toyana; editing by Andrew Roche

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