Moody's warns political infighting could see SA downgraded

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(Picture: Supplied)
(Picture: Supplied)

Cape Town – Moody’s warned on Wednesday that political infighting could result in a downgrade of South Africa’s sovereign rating.

The warning comes amid increasing criticism towards rating agencies from the ANC, with secretary general Gwede Mantashe accusing them of trying to steer the country in a particular direction.

“We do what is right for South Africa and rating agencies must rate us on our work,” he said in January. “Unfortunately, they are very influential in terms of your status in the international financial world.”

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