The DA has expressed concern at the decision by rating agency Moody’s on Friday not to make any sort of announcement regarding South Africa’s sovereign credit outlook.
Spokesperson, Alf Lees says despite having publicly stated that it would update its position by the end of March, it had not done so, and Moody’s did not even give an explanation of why it had not given an update.
He says at the very least there should have been a statement, supported by research, why the rating was to remain unchanged at Baa3 neutral.
Lees says this non-event by Moody’s has left the investor market none the wiser and has simply extended the uncertainty.
He says the DA will write to Moody’s to request an explanation on the reasons why there was no communication, because, without clarity, international and local investors will, without doubt, remain cautious - if not outright opposed - to invest in South Africa.
