SA, along with the Czech Republic and Saudi Arabia did not receive updated sovereign credit ratings from Moody's on Friday. The ratings agency issued a media statement at about 11.30pm on Friday night saying its ratings for these three countries would not be updated as diarised. Portugal's credit rating was upgraded to Baa3 — raising it from junk to to the lowest tier of investment grade, the same level as SA — and the Republic of Congo's credit rating was affirmed at Caa2 with its outlook raised to stable from negative. "No new date was immediately available from Moody’s but we suspect it will be the second half of November or early December if it occurs this year — else March next year," Intellidix analyst Peter Attard Montalto said in a note e-mailed at about midnight on Friday. "We expect Moody’s to keep ratings unchanged this year and only downgrade the outlook after next year’s budget as further budget and growth downward surprises come to a head with limited signals of furthe...
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