S&P meets political pundits, snubs ANC
Ratings agency slips quietly into the country and economists suggest downgrade is in the works
An S&P Global Ratings delegation slipped into the country this week and has been quietly meeting political analysts but snubbed Luthuli House in what observers described as an unusual move. Economists speculated that S&P was preparing to downgrade SA’s sovereign credit rating on November 24, much like Moody’s Investors Service signalled it would do in a note released earlier this week. A Moody’s delegation is expected in SA next week. ANC spokesman Zizi Kodwa said on Thursday Luthuli House had not received a meeting request from S&P, while the Treasury and the Reserve Bank confirmed that a delegation from the sovereign credit ratings agency was in the country. "We have engaged with them [S&P] before, but Luthuli House has received no request," he said. Finance Minister Malusi Gigaba’s spokesman, Mayihlome Tshwete, and Reserve Bank spokesman Jabulani Sikhakhane confirmed that an S&P delegation was in SA. S&P’s Marissa Scott also confirmed that a delegation from the agency was in SA. ...
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