Rating agency Moody’s has skipped a decision to review South Africa’s credit rating, which was expected on Friday.
This means the country stays at Baa3, which is one notch above sub-investment grade, with a stable outlook until the next review takes place on November 1.
Rating agencies S&P and Fitch downgraded the country to non-investment grade (junk status) in 2017.
A similar rating by Moody’s would have hit South Africa’s embattled economy – and president Cyril Ramaphosa’s drive to attract $100 billion in investment over the next five years - hard.
This is the second time in a row Moody’s has deferred a pronouncement on the country’s rating.
It did not give reasons for the decision.
