Doubtful if nuclear ruling will derail Moody's ratings cut - economist

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Cape Town - It is doubtful whether Wednesday's nuclear court decision would derail a ratings cut from Moody’s, according to emerging markets economist Peter Attard Montalto of Nomura.

It does put more focus on an S&P local ratings cut this year, though, given the growth shock Nomura expects, that should happen eventually anyway, in his view.

Therefore, the wide-ranging high court judgment - basically throwing out SA's entire nuclear procurement process, including intergovernmental agreements - can be seen as a marginal positive for ratings and the market, he said.

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