Moody’s says it will not issue a sovereign credit rating decision on SA this Friday, as previously planned, but will do so after a review that could take 30 to 90 days. On Monday, Moody’s announced that it had placed SA on a review for a downgrade after a Cabinet reshuffle that removed respected finance minister Pravin Gordhan from his post. Moody’s currently has SA’s sovereign at two notches above noninvestment grade at Baa2. On Monday, S&P Global Ratings downgraded SA’s foreign currency-denominated debt rating to BB+ from BBB-and its rand-denominated debt rating to BBB-from BBB. Reuters
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